EURUSD broke a significant support at 1.1685, indicating a continuation of selling pressure
The decline was influenced by bearish correctional trend and negative signals on the RSI
Downside movements are expected on the near-term basis due to weakness in bullish momentum
The (EURUSD) declined in its last intraday trading, affected by the continuation of the bearish correctional trend on the short-term basis, and its move alongside a bearish bias line, breaking the key support at 1.1685, which represents the target we mentioned in yesterday’s forecast, indicating the continuation of the selling pressure.
This decline comes due to the downside movements below EMA50, besides the continuation of the negative signals on the (RSI), despite reaching oversold levels, indicating the weakness of the bullish momentum and opens for downside movements on the near-term basis.
