EUR/USD Slides as 100-day SMA Halts Recovery Amid US-Iran Delay
The Euro fell about 0.13% against the Dollar on Monday, with technical resistance at the 100-day SMA capping gains as news of stalled US-Iran talks dampened sentiment.
EURUSD
EUR/USD edged lower on Monday, losing roughly 0.13% as the Euro struggled to maintain upward momentum. The decline came after reports of a delay in US-Iran negotiations, which tempered risk appetite and weighed on the single currency.
From a technical perspective, the pair's attempted recovery ran into a wall at the 100-day simple moving average, a key level that has now acted as a ceiling. This stall reinforces the near-term resistance zone around that moving average.
Source: FXStreet Forex News