EUR/USD TECHNICAL ANALYSIS
EUR/USD remains in a descending trend channel after several days of consolidation. The descending trend line is currently dissecting at the same level as the 55-day simple moving average (SMA) at 1.0100 and may offer resistance.
Last week’s peak of 1.0198 could also offer resistance.
On the downside, support might lie at the recent low of 0.9945 and 0.9864 ahead of the 0.9695, the 161.8% Fibonacci Extension of the move between 0.9953 to 1.0369.
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