European only currency, EURUSD pair maintains downside momentum and more deeper, but the Relative Strength Index is nearing with 30, the level that indicates EURUSD oversold conditions. Will we see a bounce here? It may well be a little bounce given the fundamentals
The safe haven currency EURUSD pair remains below the 50 and 200 Simple Moving Averages.
Meanwhile, Initial support awaits at 1.1380 which is the recent low. A more considerable EURUSD cushion is at 1.1350 which supported euro/dollar in mid-January. 1.1310 was a double bottom back in December, and 1.1290 is the 2019 trough recorded late in January.
For conclusion, The round number of EURUSD 1.1400 is a battle line. It supported the pair on Tuesday. 1.1425 served as a temporary cushion earlier this week, EURUSD 1.1435 was a temporary support line last week, and 1.1450 was a swing so high before the fall. Climbing back may be hard with all this resistance, but I think it's a bit of a chance
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