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\n Share:<\/span><\/p>\n EUR\/USD remains<\/a> pressured around the intraday low, making rounds to 1.0700 of late, as a short-term key support confluence challenges the Euro sellers amid Monday’s sluggish Asian session.<\/p>\n It’s worth noting that the broad US Dollar<\/a> and downbeat concerns about the euro zone<\/a> keep the EUR\/USD bears hopeful as traders await the US ISM Services PMI and Factory Orders.<\/p>\n Also read: EUR\/USD stays depressed near 1.0700 ahead of US Factory Orders, ISM Services PMI<\/a><\/p>\n That said, the quote’s clear U-turn from the 100-day Exponential Moving Average (EMA), currently around 1.0770, allows the EUR\/USD bears to prod a convergence of the 200-day EMA and an upward-sloping trend line from late November 2022.<\/p>\n It’s worth noting, however, that the receding bearish bias of the MACD and the nearly oversold RSI line, placed at 14, challenge the EUR\/USD bears as they jostle with the key support near 1.0690-85.<\/p>\n Even if the quote drops below the 1.0690-85 support confluence, the 50% Fibonacci retracement of its November-April upside and a five-month-old rising support line, respectively near 1.0660 and 1.0635, can challenge the EUR\/USD pair’s further downside. .<\/p>\n Meanwhile, EUR\/USD recovery needs to provide a daily closing beyond the 100-day EMA, around 1.0770 by the press time, to convince the buyers.<\/p>\n Even so, the lows marked during early April and May around 1.0840-50 can act as the last defense of the EUR\/USD<\/a> bears.<\/p>\n\n
EUR\/USD: Daily chart<\/h2>\n