The SMA 20 is bearish and represents an important resistance area for the pair. According to tradingpeek.com, RSI 14 is trading in a bearish direction and the bullish trend line was breached during the Asian session this morning, indicating weakness in the pair.
EUR/USD Daily Forecast - 27 April
The EUR/USD pair is still trading in a downtrend that is consolidating and breaking the support areas we mentioned earlier confirm the strength of the sellers.
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