- EUR/USD stays under heavy bearish pressure below the 1.1039 resistance.
- The downside move could reach the 1.0976 and 1.0953 levels.
EUR/USD daily chart
EUR/USD is trading in a weak bear trend below its main simple moving averages (SMAs) as the market is breaking down through a bullish trendline which started in October 2019. EUR/USD formed a head-and-shoulders pattern which is driving the spot near two-month’s lows.
EUR/USD four-hour chart