The EUR/USD currency pair ended the week trading near 1.1400, marking a decline of over 1.74% against the US Dollar and 0.84% in the day, according to FXStreet. The pair experienced four consecutive bearish sessions after falling below the 200-day Simple Moving Average (SMA) at 1.1672, which has shifted the technical bias to bearish [1]. At the time of writing, EUR/USD was quoted at 1.1414 [1].
Technical analysis indicates that momentum remains negative, with the Relative Strength Index (RSI) turning bearish three weeks ago after dropping below the 50-neutral level. The weekly chart suggests further downside is likely, with key support levels at 1.1400 and 1.1300. A breach of these levels could expose the next major support at the 100-week SMA of 1.1165 [1]. On the daily chart, the first support is the August 1, 2025 swing low at 1.1391, followed by the May 29, 2025 daily low at 1.1210, and the May 12, 2025 bottom at 1.1065 [1].
The Euro's performance against other major currencies this week was mixed. It was strongest against the New Zealand Dollar, but posted losses against the US Dollar (-1.15%), Canadian Dollar (-1.12%), and Swiss Franc (-0.34%) [1]. The heat map provided shows the percentage changes of major currencies against each other, highlighting the Euro's relative weakness versus the US Dollar and other majors [1].
Forward-looking statements from the technical outlook suggest that the EUR/USD is likely to extend its losses, with bearish momentum and multiple support levels being tested in the near term [1].
CONCLUSION
EUR/USD has broken below key technical levels, posting significant weekly losses and signaling further downside risk. The bearish momentum is reinforced by negative RSI and multiple support levels under threat. Market participants should monitor upcoming support areas as the pair remains under pressure.