The currency pair declines toward a nine-day exponential moving average, trading near 1.1760 in Asian hours.
EUR/USD fell to 1.1760 during Tuesday’s Asian trading session, marking its second consecutive day of losses. The pair is approaching the nine-day exponential moving average near 1.1750, though technical analysis on the daily chart suggests an underlying bullish trend as it remains within an ascending channel.
The decline follows a period of consolidation, with the pair previously trading in a tight range. Analysts note the ascending channel pattern has held since late July, indicating potential support levels despite short-term downward pressure.
No immediate market reaction was reported, though traders are monitoring the pair’s ability to hold above key technical levels.