The EUR/USD pair didn’t see much change after a slight dip the previous session, hovering around 1.1650 during the Asian trading hours on Wednesday. The 14-day Relative Strength Index (RSI) is sitting at 40, which is below the neutral mark of 50. This suggests a lack of strong momentum but doesn’t specifically indicate an oversold condition.
Looking at the daily chart, the EUR/USD is positioned below both the 9-day and 50-day exponential moving averages (EMAs). These averages are flattening out, hinting that any upward momentum is fading. Notably, the 9-day EMA has crossed below the 50-day EMA, solidifying a short-term bearish outlook as the medium-term trends shift.
If the pair starts to decline, it could approach the six-week low of 1.1589, which was hit on December 1st. Should it drop further, the next significant support level would be around 1.1468, marking its lowest point since August 2025.
Resistance for the EUR/USD is initially seen at the 9-day EMA, which is at 1.1672, closely followed by the 50-day EMA at 1.1677. An upward movement through this EMA range could bring focus back to an initial resistance point at 1.1808, a high noted three months ago on December 24. Following that, the next target would be around 1.1918, which is the highest level since June 2021.
