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2025-07-31 17:49:08
EUR/USD Technical Analysis: From the hourly candlestick chart, EUR/USD has accelerated its decline since its high of 1.1769, demonstrating a clear downtrend. The exchange rate continues to trade between the middle and lower Bollinger Bands, with the short- to medium-term trend lines diverging downward, indicating that the bearish trend has not yet reversed. A weak rebound from the previous support level of 1.1480 is currently constrained by the middle Bollinger Band, with 1.1480 now acting as a significant resistance level. Analysts suggest that if this level fails to hold, the pair could retest the support area of 1.1400. A break below 1.1400 could open the way for a test of the 1.1300 range. The MACD indicator shows that both the DIFF and DEA remain in negative territory, indicating that the current rebound is a weak technical one. The RSI is currently at 39.97, indicating weakness in the bearish zone. There are no signs of a recovery from oversold conditions, nor is there a clear divergence support level. Bearish momentum remains a concern, suggesting further downward movement.
