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The EUR/USD pair remains under pressure as the Eurozone struggles with its weakened economy and the US dollar continues to strengthen. This technical analysis will provide an overview of key levels and trends to watch for in the EUR/USD pair.

Key Support and Resistance Levels

On the daily chart, the EUR/USD pair has been trading within a well-defined downtrend. The key support level to watch is at 1.1000. If the pair breaks below this level, it could open the door for further downside towards the next support level at 1.0900.

On the upside, the key resistance level is at 1.1100. If the pair manages to break above this level, it could indicate a reversal of the downtrend and potential upside towards the next resistance level at 1.1200.

Indicators

The moving average convergence divergence (MACD) indicator is currently showing bearish momentum for the EUR/USD pair. The MACD line is below the signal line and the histogram is showing negative values, indicating a bearish bias in the market.

The relative strength index (RSI) is also bearish, with a reading below 50. This suggests that the selling pressure is still strong and the pair may continue to decline.

Conclusion

The EUR/USD pair is facing strong resistance at 1.1100 and support at 1.1000. Traders should keep an eye on these key levels for potential trading opportunities. The indicators are currently showing a bearish bias, indicating that the pair may continue to decline in the near term.