Ella 
EUR/USD attempted to end its losing streak that began on September 19, hovering around the psychological level of 1.0500 in Asia on Thursday. The pair came under pressure due to risk aversion coupled with rising U.S. bond yields and upbeat U.S. economic data.
On Wednesday, a poor German GFK consumer confidence index put pressure on EUR/USD. The indicator fell to -26.5 in October from -25.6 in the previous month.
With the 14-day relative strength indicator still below 50, the current downside momentum in EUR/USD appears to have an underlying bearish bias. However, the January low of 1.0481 may limit further losses. A break below this level could push EUR/USD bears towards the psychological level of 1.0450.
On the upside, prices may face significant resistance levels. The 7-day EMA at 1.0575 may act as resistance, followed by the psychological level of 1.0600. A break above the latter could see the euro heading towards the 23.6% retracement level at 1.0674.
The MACD indicator provides a bearish signal for EUR/USD. This line is located below the midline and signal lines. This confirmation suggests that price momentum may be weak.
