EURUSD continues to slide at the start of the week influenced by the NFP surprise on Friday and the hawkish Fed. The bearish trend of the pair is affected by the risk-off tone which is helping the US dollar index to rise further above level 102.00. The Eurozone retail sales data has missed expectations dragging the EUR lower.
The pair continued to slide further, breaking the rising multi-week trendline. The price is trading at the lower Bollinger near 1.0765 but is struggling to break it, forming support at this level. RSI is in the bearish zone giving further hope to sellers. MACD is preserving a poor buy signal. Histogram bars are decreasing in the positive territory. Stochastic has reached its lows indicating the risk of an upward reversal in the ultra-short term. Breaking the rising trend line 1.0755 will extend the bearish trend toward 1.0734 and open the door towards 1.0687. A breakthrough here will drag the pair lower towards 1.0640. On the upside, buyers will look for breaking 1.0800 to extend the move further towards 1. 0835. Breaking the rising trendline will open the door towards 1.0866.
Key levels to watch from the upside 1.0755, 1.0734, 1.0687, 1.0640 – from the upside 1.0800, 1. 0835, 1.0866.