EUR/USD Technical Outlook – 25, April

EUR/USD turned south after the Relative Strength Index (RSI) indicator on the four-hour chart rose above 70, suggesting that the pair’s latest pullback is a technical correction.

On the downside, 1.1000 (psychological level, static level, 20-period Simple Moving Average (SMA) and 50-period SMA) aligns as important support. A four-hour close below that level could attract technical sellers and trigger an extended decline toward 1.0950 (100-period SMA, Fibonacci 23.6% retracement) and 1.0900 (psychological level, static level).

1.1050 (static level) acts as interim resistance before 1.1075 (end-point of the latest uptrend) and 1.1100 (psychological level).