EUR/USD rallied to trade around 1.1520 during Asian hours on Monday, after recording modest gains in the previous session. Technical analysis of the daily chart shows a continuation bias as the pair remains in a descending channel pattern.
The near-term trend is bearish, as the pair extends its decline from the nine-day exponential moving average (EMA), which has broken down and is now well above the point, reinforcing short-term bearish pressure. The price is also holding below the 50-day EMA, maintaining a broader downtrend despite earlier consolidation.
The 14-day Relative Strength Index (RSI) momentum indicator has broken below 30, indicating oversold conditions. However, a persistent deterioration from the average readings indicates that the sellers are currently in control, rather than a finished phase.
Primary support is at the seven-month low of 1.1468. Further declines will put downward pressure on the EUR/USD pair to test the lower boundary of the descending channel around 1.1430, followed by the nine-month low of 1.1391.
On the upside, EUR/USD could approach primary resistance at the nine-day EMA of 1.1650, where any retracement would face the first technical barrier in the downtrend. A more meaningful recovery should require a daily retracement of the 50-day EMA at 1.1742 followed by an upper channel boundary around 1.1790 to ease the bearish momentum and open the way to 1.2082, the highest level since June 2021.
(The technical analysis of this story was written with the help of an AI tool.)
Euro today
The table below shows the percentage change of the euro (EUR) against the major currencies listed today. The euro was weakest against the Canadian dollar.
| USD | Yavro | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.76% | 0.71% | 0.60% | -0.20% | 0.45% | 0.47% | 0.56% | |
| Yavro | -0.76% | -0.05% | -0.18% | -0.96% | -0.31% | -0.30% | -0.21% | |
| GBP | -0.71% | 0.05% | -0.11% | -0.91% | -0.26% | -0.25% | -0.16% | |
| JPY | -0.60% | 0.18% | 0.11% | -0.81% | -0.16% | -0.14% | -0.05% | |
| CAD | 0.20% | 0.96% | 0.91% | 0.81% | 0.66% | 0.67% | 0.76% | |
| AUD | -0.45% | 0.31% | 0.26% | 0.16% | -0.66% | 0.01% | 0.11% | |
| NZD | -0.47% | 0.30% | 0.25% | 0.14% | -0.67% | -0.01% | 0.09% | |
| CHF | -0.56% | 0.21% | 0.16% | 0.05% | -0.76% | -0.11% | -0.09% |
The heat map shows the percentage change of the base currency relative to each other. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you select EUR from the left column and scroll horizontally to USD, the percentage change shown in the box represents EUR (base)/USD (quote).
