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Sadii

06/23 09:48

BitcoinWorldEUR/USD Slides Toward 1.1450 as Bearis

#World Cup Predictions: 100,000 USDT Daily #HTX Invites You to Share 600K USDT in Gift Packs #BTC Prophet: 20-Day 380 Million HTX Challenge BitcoinWorldEUR/USD Slides Toward 1.1450 as Bearish Pressure Tests Key Bollinger Support The EUR/USD currency pair extended its decline during Wednesday’s trading session, slipping toward the 1.1450 handle as persistent bearish momentum pushed prices to test the lower Bollinger Band support on the daily chart. The move marks a continuation of the recent downtrend, with sellers maintaining control amid a broadly stronger US dollar and shifting interest rate expectations. Technical Breakdown: Lower Bollinger Band Under Pressure The lower Bollinger Band, often viewed as a dynamic support level in trending markets, is currently being tested near 1.1440. A confirmed close below this band would signal an acceleration of bearish momentum, potentially opening the door toward the next support zone around 1.1380, a level that acted as resistance in early February. The middle Bollinger Band, representing the 20-day simple moving average, has flattened and is sloping slightly lower near 1.1580, reinforcing the bearish bias. The Relative Strength Index (RSI) on the daily chart has dipped below 40, entering bearish territory but not yet oversold. This suggests room for further downside before exhaustion becomes a factor. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator remains below its signal line with expanding red histogram bars, confirming that downside momentum is building. Fundamental Context: Dollar Strength Weighs on Euro The euro’s weakness comes against a backdrop of resilient US economic data that has tempered expectations for Federal Reserve rate cuts in the near term. Recent US jobless claims and manufacturing PMI figures have come in stronger than anticipated, supporting the dollar’s yield advantage. In contrast, the eurozone economy continues to show signs of sluggishness, with the European Central Ba
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