The US dollar retreated relative to European currency, lost part of the position, won after strong inflation figures in the US.
Current situation
The technical picture shows a weak bearish tone of trading. The main currency pair has found strong support in the area of 1.1130. The price came under selling pressure in any attempts of growth. 50 EMA crosses the 100 EMA in the downward direction on the 4-hour chart. EMA 50 and EMA 100 directed downward, and EMA-200 neutral. Resistance is at 1.1200, support - at 1.1130.
MACD is in the negative zone. Histogram has declined, indicating that sellers gain positions. RSI is in the oversold zone.
Euro dollar forecast for today
It can be expected that trading in the EUR / USD pair will maintain a neutral tone in the short term. Price will remain in a narrow corridor, limited levels of 1.1130 and 1.1180.
Based on materials from Fort Financial Services
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