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EUR/USD Dips to 1.0840: What's Next for the Currency Pair? | Technical Breakdown & Key Levels to Watch

The trump coin price graphEUR/USD currency pair exhibits bearish momentum during Monday's Asian session, hovering near 1.0840 as market participants digest recent geopolitical developments. This movement represents a pullback from previous gains, with traders closely monitoring the monthly low at 1.0813 as potential support.

Market sentiment appears influenced by risk-off positioning following Middle East tensions, particularly after the drone attack on US forces in Jordan. Such geopolitical factors continue to impact currency valuations as investors seek safer assets.

From a technical perspective, several key levels emerge:

■ Resistance forms near 1.0850, with potential upside targets including the 23.6% Fibonacci retracement at 1.0889 and the 21-day EMA hovering around 1.0898. The psychological 1.0900 level remains significant for bulls attempting to regain control.

■ Momentum indicators paint a cautious picture, with the 14-day RSI remaining below the neutral 50 level, suggesting continued bearish pressure. The MACD configuration reinforces this outlook, displaying the signal line below the centerline in a bearish formation.

■ Support levels warrant attention at the monthly low of 1.0813, followed by psychological support at 1.0800. A sustained break below these markers could open the path toward 1.0750 support.

Traders should monitor these technical parameters alongside fundamental developments, particularly any shifts in risk appetite or geopolitical developments that could alter current market dynamics. The interplay between technical indicators and macroeconomic factors will likely determine the pair's near-term direction