The EUR/USD currency pair remains under pressure, trading around 1.1337 on Wednesday, close to Tuesday’s low of 1.1312, which marks its weakest level since May 2025 [1]. The Euro is on track for a loss of more than 2% against the US Dollar in September, reflecting broad-based USD strength [1]. According to a comparative table, the Euro has depreciated by 2.49% against the US Dollar and was the weakest against the Japanese Yen this month [1].
From a technical perspective, the monthly chart presents a mixed outlook. EUR/USD is trading above the 50-period SMA at 1.1008 and the 100-period SMA at 1.1200, but remains well below the 200-period SMA near 1.1838 [1]. Momentum indicators such as the RSI are near the neutral 50 level, and the MACD has slipped slightly into negative territory, suggesting that while the broader structure is supported, upward momentum has weakened [1].
The daily chart, however, signals a more bearish scenario. EUR/USD is trading well below the 50-day, 100-day, and 200-day SMAs, which are clustered between 1.1521 and 1.1614 [1]. The RSI has fallen deep into oversold territory near 23, and the MACD remains below zero, indicating dominant selling pressure [1]. Despite these bearish signals, the oversold conditions could leave the pair vulnerable to a short-covering bounce [1].
Immediate resistance is identified at the 1.1400 psychological mark, followed by 1.1470, with further resistance at the 100-day SMA (1.1521), 50-day SMA (1.1532), and 200-day SMA (1.1614). The horizontal barrier near 1.1700 forms a broader resistance zone. On the downside, immediate support is seen at Tuesday’s low of 1.1312 [1].
CONCLUSION
EUR/USD is experiencing significant downward pressure, losing over 2% in September amid a stronger US Dollar. Technical analysis points to a bearish short-term outlook, though oversold conditions may prompt a corrective bounce. Market participants should monitor key support and resistance levels for potential shifts in momentum.