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EUR/USD trades below 1.1400 as bearish momentum persists
The pair is still near its lowest level since July 28 and remains capped below the 200-day EMA, with RSI around 28 pointing to oversold conditions.
EUR/USD is consolidating below the 1.1400 level, after the pair filled a modest weekly bearish gap, according to FXStreet. The outlet said spot prices were staying close to the lowest level since July 28 as of Monday’s Asian session.
FXStreet attributed the negative bias partly to a hawkish Federal Reserve outlook that has kept US bond yields elevated and boosted safe-haven demand for the US dollar. It also cited oil-driven inflation worries tied to expectations of another October rate hike, plus ongoing geopolitical uncertainty from the US-Iran standoff.
On the technical side, FXStreet said EUR/USD holds a bearish stance below the 200-day exponential moving average, while MACD remains below zero with the line under its signal and a negative histogram. The outlet added that the relative strength index is around 28, signaling oversold conditions that could slow the decline but had not yet reversed it.
Latest closeEUR/USD 1.139 ▲0.1%