Ella 
EUR/USD is unable to continue its rising momentum, with a mildly bearish trend, trading near the psychological price levels of 1.0740 and 1.0750. EUR/USD found upward support after the US dollar retreated.
However, investors generally expect the European Central Bank to take a dovish stance and keep interest rates unchanged at its policy meeting on Thursday. However, it is worth noting that if the European Central Bank releases measures or statements that surprise the market, it may still disrupt the market and bring a certain degree of uncertainty to the trend of EUR/USD.
The MACD indicator is still below its midline, but the MACD lines are converging below the signal line. This configuration indicates that the recent market momentum is relatively weak and is moving sideways.
EUR/USD is likely to find initial support around the psychological 1.0700 level, followed by last week’s low of 1.0685. A break below this level could see EUR/USD traders approach the June lows near the 1.0661 area, followed by the 1.0650 psychological level.
On the upside, key resistance for EUR/USD is the nine-day exponential moving average at 1.0756, followed by the psychological 1.0800 level.
A clear break above this level for EUR/USD could open the door to further upside, exploring the 21-day exponential moving average around 1.0811, followed by the 23.6% Fibonacci retracement level at 1.0826.
In the short term, EUR/USD is expected to maintain bearish sentiment as long as the 14-day Relative Strength Index (RSI) remains below the 50 level. This means EUR/USD is likely to continue its downward trend.
