EUR/USD Plunges Below 200-Day SMA Amid Rising Geopolitical Tensions

The EUR/USD pair has retreated below its 200-day Simple Moving Average (SMA) as sellers regain traction. The Relative Strength Index (RSI) remains above 50, but a downward tilt suggests momentum is fading.

The shared currency edges lower, capped by the 200-day SMA at 1.1633, amid rising geopolitical tensions and escalating hostilities between the US and Iran, prompting investors to buy the US Dollar. At the time of writing, the EUR/USD trades at 1.1590, down 0.25%.

For a bearish continuation, the EUR/USD must clear the 100-day SMA. This will expose the August 13 swing low of 1.1511, followed by the 50-day SMA at 1.1494. Below, the next support is the 1.1400 psychological level.