On a daily time frame the EUR/USD is bearish trading below 20, 55, and 100 – day moving averages. Next possible support levels found at 1.3977 (23rd May daily lows) and 1.3818 (the 200-day moving average).

On an hourly time frame price trading is also bearish with price trading below 20, 55,100 & 200 SMA. To the downside support seen at 1.4050 region (the lower limit of the falling channel) while to the upside 1.4159 (the 20SMA).

Again on hourly charts momentum as depicted by the simplified MACD remains low and as yet suggesting very low probability for the end of the current bearishness. The lowest lows from the previous MACD segment are at -0.0018, holding that as a benchmark we see that highest highs of the current MACD segment remains fairly away from the 0.0018 and is currently at 0.0004 – a break of 0.0018 may suggest increasing momentum on the buy side but at the moment this is not yet the case.