EUR/USD: Steeper decline on a break below 1.0790

The EUR/USD pair is biased lower in the short-term, and according to the 4-hour chart, as FXStreet’s Chief Analyst Valeria Bednarik notes.

Key quotes

“In the 4-hour time-frame, the EUR/USD pair is below all of its moving averages, which pose modest bearish slopes.”

“Technical indicators, in the meantime, ease within negative levels, although their bearish strength is limited.” 

“A steeper decline is to be expected on a break below 1.0790, the next relevant support level.”