EUR/USD: Up 0.37% to 1.1424 — Descending Channel
· Forex · MarketsFN Team
EUR/USD: Up 0.37% to 1.1424 — Descending Channel
Published: June 29, 2026 · MarketsFN Team · US Session
| Pair | Rate | Change | RSI(14) | SMA-20 | SMA-50 | 52W High | 52W Low | Pivot | R1 | S1 |
|---|---|---|---|---|---|---|---|---|---|---|
| EUR/USD | 1.1424 | +0.37% | 37.0 | 1.1504 | 1.1611 | 1.2041 | 1.1358 | 1.1390 | 1.1426 | 1.1346 |
📊 Support & Resistance Levels
Dynamic Trendlines
| Level | Type | Direction | Distance |
|---|---|---|---|
| 1.1281 | 20d Support | ↘ descending | -1.26% / 143.5 pips |
| 1.1539 | 20d Resistance | ↘ descending | +1.00% / 114.6 pips |
| 1.1301 | 50d Support | ↘ descending | -1.08% / 123.1 pips |
| 1.1564 | 50d Resistance | ↘ descending | +1.23% / 140.1 pips |
Static Levels
| Level | Type | Touches | Distance |
|---|---|---|---|
| 1.1779 | Resistance | 2× | +3.11% / 354.9 pips |
| 1.1729 | Resistance | 2× | +2.67% / 304.7 pips |
| 1.1668 | Resistance | 2× | +2.13% / 243.6 pips |
EUR/USD is trading at 1.1424 (+0.37%), staging a modest rebound from yesterday's close at 1.1382 but remaining firmly entrenched in a downtrend. The pair continues to trade below both the 20-day SMA (1.1504, -80 pips) and 50-day SMA (1.1611, -187 pips), confirming bearish momentum. Price action remains confined within a descending 20-day dynamic channel, with immediate resistance at 1.1539 (+114.6 pips) and support at 1.1281 (-143.5 pips). The broader 50-day channel mirrors this structure, sloping downward with resistance at 1.1564 (+140.1 pips) and support at 1.1301 (-123.1 pips).
Static levels show the nearest pivot at 1.1390 (-34 pips), with S1 support at 1.1346 (-78 pips) and R1 resistance at 1.1426 (+0.2 pips) — the latter nearly tested in today's session high of 1.1425. The RSI at 37.0 sits in neutral territory, offering no clear divergence signals despite the recent bounce. With ATR(14) at 0.0064, today's range of 45 pips remains below average volatility.
The short-term outlook remains bearish unless the pair can reclaim the 20-day SMA at 1.1504. A break below today's low of 1.1380 would target S1 at 1.1346, while sustained trading above R1 at 1.1426 could see a test of the descending 20-day dynamic resistance at 1.1539. The key catalyst will be whether the rebound can hold above the pivot at 1.1390 into the close — failure here would signal continuation of the broader downtrend.
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