EUR/USD came under heavy bearish pressure in the American session on Wednesday and closed the day deep in negative territory as safe-haven flows dominated the action in financial markets.
EUR/USD holds steady near 1.0800 following Wednesday's sharp decline. A daily close below 1.0790 could attract technical sellers. US Bureau of Economic Analysis will release the second estimate of Q1 GDP. After dipping to its lowest level in two weeks below 1.0800 in the Asian session on Thursday, the pair recovered back above 1.0800. Euro PRICE This week The table below shows the percentage change of Euro against listed major currencies this week.
EUR/USD Technical Analysis EUR/USD dropped below the lower limit of the ascending regression channel and the Relative Strength Index indicator on the 4-hour chart fell below 40, highlighting a bearish tilt in the near term. The 200-day Simple Moving Average aligns as key support at 1.0790. In case the pair makes a daily close below that level and starts using it as resistance, technical sellers could remain interested. In this scenario, 1.0760-1.0750 could be seen as next support before 1.0700 .
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