- EUR/USD fell 0.48% on Wednesday, settling near 1.0295 after failing to break above the 20-day SMA.
- The RSI drops sharply to negative 39, indicating increased selling pressure.
- The MACD histogram shows descending green bars, suggesting the uptrend is fading and tilting down again.
On Wednesday, the EUR/USD rate lost 0.48% and fluctuated around 1.0295. This latest decline highlights the pair’s inability to sustain a significant recovery, as repeated attempts to break above the 20-day plain moving average (SMA) since early 2025 have been met with massive selling. As a result, the bullish momentum appears to be waning, leaving sellers firmly in control of the short-term price action.
Technical readings do not paint an bullish picture. The Relative Strength Index (RSI) fell to 39, supporting the view that downward pressure is gaining momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram shows degenerating green bars, indicating that any prior buying efforts have begun to fade. Despite these setbacks, an eventual move above the 20-day SMA would still represent the clearest reversal signal if buyers regroup and attempt another rally.
But until this materializes, the path of least resistance remains downward. Traders will be closely watching upcoming macro catalysts and price action around the 20-day SMA for early signs of a possible recovery.
