EUR/USD continues to falls while the general bullish trend weakens

The EUR/USD found strong resistance above the 200 day moving average and is very likely to continue falling.

This pair has found resistance at the point of control near the 1.3665 level. Now, the EUR/USD is forming a higher low pattern below the 200 day moving average near the level of 1.3665. If the pair manages to break the support level at 1.3608, it’s expected to fall to the level of 1.3573. Moreover, if this pair manages to break the resistance level of 1.3699, it is expected to rise to the level of 1.3734.

The MACD indicator is still in negative territory, which supports our bearish outlook.

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