The EUR/USD pair declines for a third consecutive day, marking the fifth decline in the past six sessions, and reaches a one-year low during the Asian session on Wednesday. Spot rates currently sit near 1.1365, down about 0.15% on the day, and appear poised for further downside amid a strengthening US Dollar (USD).
Market participants are increasingly pricing in a potential interest‑rate hike by the Federal Reserve before year‑end to curb persistent inflation. At the same time, mixed signals from the United States and Iran regarding Tehran’s nuclear program keep geopolitical risk premiums elevated, pushing the US Dollar Index (DXY) to a 13‑month high. This development outweighs the European Central Bank’s hawkish stance and exerts additional pressure on the EUR/USD pair.
Technically, repeated failures to breach the 100‑period Simple Moving Average on the 4‑hour chart and a breach below the 1.1500 psychological level reinforce bearish sentiment. Momentum indicators remain subdued: the 14‑period Relative Strength Index hovers in oversold territory near 21, and the MACD histogram stays negative, underscoring continued downward pressure.
Nonetheless, the deeply oversold RSI and a slightly stabilising MACD suggest that sellers may soon exhaust momentum, warranting a brief consolidation or modest rebound before targeting further declines. Any recovery attempt is likely to encounter resistance around the 100‑day Simple Moving Average at 1.1544; the pair would need to reclaim that level to alleviate bearish bias and allow bullish traders to re‑enter.
EUR/USD 4-hour chart
US Dollar Price Last 7 Days
The table below shows the percentage change of US Dollar (USD) against listed major currencies over the past seven days. The US Dollar was the strongest against the New Zealand Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD2.16%1.78%0.81%1.58%2.36%3.16%2.19%EUR-2.16%-0.38%-1.49%-0.58%0.20%0.97%0.03%GBP-1.78%0.38%-1.04%-0.19%0.59%1.39%0.40%JPY-0.81%1.49%1.04%0.89%1.65%2.47%1.48%CAD-1.58%0.58%0.19%-0.89%0.77%1.57%0.60%AUD-2.36%-0.20%-0.59%-1.65%-0.77%0.79%-0.19%NZD-3.16%-0.97%-1.39%-2.47%-1.57%-0.79%-0.97%CHF-2.19%-0.03%-0.40%-1.48%-0.60%0.19%0.97%
The heat map displays percentage changes of major currencies relative to each other. The base currency is selected from the left column, while the quote currency is taken from the top row. For instance, selecting the US Dollar from the left column and moving horizontally to Japanese Yen shows the percentage change for USD/JPY.
