EUR/USD is trading below 1.1340, consolidating near its weekly lows amid a pullback in the US Treasury yields. A broad US dollar decline on easing yields and risk-aversion underpins the pair’s rebound amid a data light Eurozone docket.
The EUR/USD pair’s fall in prices on Tuesday after breaking the major support level at 1.1400. On its 4 hourly chart, 14 days RSI printing below the level of 50 indicating selling pressure in upcoming session. However, on daily chart the 15-DMA is above the 30 – DMA showing that bulls are still in the market. For short term basis support level exist at 1.1320 and on the other hand 1.1360 can react as a resistance level.