Euro: Downside levels in focus against US Dollar – UOB
UOB’s Quek Ser Leang highlights building downside momentum in EUR/USD as the 21‑day EMA approaches a bearish cross below the 55‑day EMA. The pair has broken below the Ichimoku cloud and key moving averages, with support at 1.1400 and subsequent levels at 1.1353 and 1.1324.
UOB analyst Quek Ser Leang notes the emergence of downside momentum in the EUR/USD exchange rate, with the 21-day Exponential Moving Average (EMA) approaching a bearish cross below the 55-day EMA. The pair has breached the Ichimoku cloud and major moving averages, finding support at 1.1400 and potential further support at 1.1353 and 1.1324.
Resistance is identified between 1.1555-1.1565 and near 1.1625. On September 14, 2026, EUR/USD broke below the 55-day EMA near 1.1555. Yesterday, the currency pair accelerated lower, falling beneath the lower boundary of the daily Ichimoku cloud at 1.1490. This rapid decline has positioned the 21-day EMA close to crossing below the 55-day EMA, indicating that bearish momentum continues to intensify.
Historically, when the 21-day EMA crossed below the 55-day EMA on two prior occasions, EUR/USD experienced a prolonged decline, although the severity varied. If EUR/USD drops below 1.1400, market observers will be monitoring the July low of 1.1353 as the next important support level, followed by the June low of 1.1324.
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