EUR/USD currency pair analysis

The EUR/USD pair continues to move within a sideways trend that tends to decline, as the price returned to test the 1.0966 support level, and trades stabilized below the 1.100 level, so the pinch remains great to breach the 1.0966 support level as long as the trades are below the mentioned level.

The moving averages are pressing the price to continue the lower movement, as it is moving within one range above the price, thus increasing the pressure to continue testing the support and trying to break it and complete the descending path.

On the other hand, it should be noted that breaching the moving averages level at the value 1.1010 might push the price to test the resistance level 1.10633 and try to reach the level of 1.1145 before any new attempt to decline.

Support: 1.0966—1.0920—1.0890.

Resistance: 1.1010—1.1063—1.1145.

The forecast general trend for today: bearish.