EUR/USD Downtrend Intact, Signals Further Decline
The EUR/USD pair continues to drop sharply, nearing the 1.0610 USD level during the Asian trading hours on Tuesday. This decline is driven by the strong growth momentum of the USD, propelled by pressure from higher bond yields in the United States.
From a technical standpoint, the downtrend of EUR/USD remains firmly intact. On the 4-hour chart, the downward trend is still evident, supported by prices trading below the simple moving averages (SMA). Additionally, the Relative Strength Index (RSI) has slipped below the 23 level, indicating an imbalance between buying and selling pressure and the potential for further decline
From a technical standpoint, the downtrend of EUR/USD remains firmly intact. On the 4-hour chart, the downward trend is still evident, supported by prices trading below the simple moving averages (SMA). Additionally, the Relative Strength Index (RSI) has slipped below the 23 level, indicating an imbalance between buying and selling pressure and the potential for further decline
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