Euro: Downside levels in focus against US Dollar – UOB

FXStreetSep 17, 2026 1:38 PM

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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. Resistance is seen between 1.1555–1.1565 and near 1.1625.

Bearish momentum targets key supports

"On Monday, 14 Sep 2026, EUR/USD broke below the 55-day EMA near 1.1555."

"Yesterday, it accelerated lower and fell through the lower boundary of the daily Ichimoku cloud, near 1.1490."

"The sharp drop has brought the 21-day EMA to the verge of crossing below the 55-day EMA, signaling that downward momentum is continuing to build."

"Notably, on the previous two occasions when the 21-day EMA crossed below the 55-day EMA, EUR/USD subsequently declined for a few weeks, although the magnitude of weakness differed."

"Looking ahead, should EUR/USD break below 1.1400, the July low of 1.1353 would be the next level to watch, followed closely by the June low of 1.1324."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)

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