EUR/USD: Steeper decline expected below 1.0890

EUR/USD is bearish in the short-term and a steeper decline is expected once below 1.0890, FXStreet’s Chief Analyst Valeria Bednarik reports.

Key quotes

“The EUR/USD pair is technically bearish, according to the 4-hour chart, as it´s now developing below all of its moving averages, while technical indicators head south within negative levels.” 

“The next Fibonacci support comes at 1.0890, with a break below it opening doors for a steeper decline.”

“Support levels: 1.0890 1.0850 Resistance levels: 1.0960 1.1000”