- EUR/USD may continue to depreciate due to weaker short-term price dynamics.
- Initial support appears at a two-year low at 1.0332, recorded on November 22.
- The nine-day EMA provides immediate resistance at 1.0417.
EUR/USD is making up for the recent losses from the previous session, reaching a level of around 1.0410 on Tuesday during European hours. A review of the daily chart shows a continued bearish bias as the pair is confined to a descending channel formation.
The 14-day relative strength index (RSI), a key momentum indicator, remains below the 50 level, confirming the continued bearish sentiment for the EUR/USD pair. Additionally, the nine-day exponential moving average (EMA) is below the 14-day EMA, suggesting that short-term price momentum is weaker.
On the other hand, the two-year low of 1.0332, which was recorded on November 22, appears to be the main support for the EUR/USD pair. A successful break below this level could strengthen the bearish bias and put downward pressure on the pair to move around the lower boundary of the descending channel at 1.0010.
In terms of resistance, the EUR/USD pair is testing the immediate barrier at the nine-day exponential moving average (EMA) at 1.0417, followed by the 14-day EMA at 1.0433. A break above these EMAs could lead the pair to approach the upper boundary of the descending channel at 1.0500, followed by a seven-week high of 1.0630.
EUR/USD: Daily chart
PRICE IN EURO today
The table below shows the current percentage change of the euro (EUR) against the main listed currencies. The euro was strongest against the New Zealand dollar.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.15% | -0.04% | -0.42% | 0.09% | 0.13% | 0.23% | -0.12% | |
| EUR | 0.15% | 0.12% | -0.23% | 0.25% | 0.28% | 0.39% | 0.03% | |
| GBP | 0.04% | -0.12% | -0.39% | 0.12% | 0.17% | 0.28% | -0.09% | |
| JPY | 0.42% | 0.23% | 0.39% | 0.54% | 0.56% | 0.65% | 0.33% | |
| BOOR | -0.09% | -0.25% | -0.12% | -0.54% | 0.03% | 0.14% | -0.22% | |
| AUD | -0.13% | -0.28% | -0.17% | -0.56% | -0.03% | 0.10% | -0.25% | |
| NZD | -0.23% | -0.39% | -0.28% | -0.65% | -0.14% | -0.10% | -0.35% | |
| CHF | 0.12% | -0.03% | 0.09% | -0.33% | 0.22% | 0.25% | 0.35% |
The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select Euro from the left column and move along the horizontal line to US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
