EUR/USD (a 4-hour chart)
The euro strengthened against the US dollar on the back of the weak data and Fed officials’ ambiguous comments regarding the rate.
The bearish trend remained intact in the 4 hours chart. The EUR/USD pair was decisively trading below the 1.1000 level. The market was fairly balanced during the Asian session on Wednesday. The price stayed between the marks 1.0970 and 1.1000. The euro moved down towards 1.0950 during the European trades. The euro quotes broke the 50-EMA and tested the 100-EMA in the 1 hour chart in the Asian session. The 100-EMA rejected the price downwards. The EUR/USD was in-between the 50 and 100 EMAs during the early European hours and moved below the lines ahead of the US opening. All moving averages accelerated their decline in the mentioned timeframe. The resistance comes in at 1.1000, the support stands at 1.0950.
MACD is in the negative territory. MACD decreased which confirms the strength of sellers. RSI headed towards the oversold area.
Negative technical studies maintained bearish pressure. A break below 1.0950 will suggest a further weakness towards 1.0900.