Anna 
During the early European hours on Monday, the EUR/USD pair halted its four-day winning streak, sliding to near 1.0830. Analysts suggest the pair could descend further to retest the nine-day Exponential Moving Average (EMA) at 1.0822.
Technical analysis indicates a bearish sentiment for the EUR/USD pair. The 14-day Relative Strength Index (RSI) sits below the 50 mark, signaling weakness in buying momentum. Moreover, the Moving Average Convergence Divergence (MACD) remains below the centerline and shows convergence below the signal line, indicating a potential shift in momentum for the pair. Traders are likely to await confirmation from this lagging indicator to ascertain a clearer trend direction.
In terms of support levels, the EUR/USD pair could encounter immediate support at the psychological level of 1.0800. A breach below this level may intensify pressure, potentially leading the pair towards the region around the major level at 1.0750, followed by the previous week’s low at 1.0724.
Conversely, on the upside, the major level at 1.0850 presents as immediate resistance, coinciding with the 50.0% retracement level at 1.0852. A breakthrough above this level could propel the EUR/USD pair to explore the 61.8% Fibonacci retracement level of 1.0883, followed by the psychological level of 1.0900. Traders will closely monitor these key levels for potential price movements in the near term.
