EUR/USD slides slightly below 1.0800 in Wednesday’s European session.
EUR/USD falls further as several ECB policymakers said they expect the Deposit Facility Rate to fall below the neutral level at around 2% or 2.25%. ECB Lagarde said she is hopeful about inflation falling at a faster-than-expected pace. The uncertainty ahead of the US presidential election is expected to keep market sentiment on its toes.
0800 in European trading hours. The outlook of the major currency pair remains downbeat as it stays below the 200-day Exponential Moving Average , which trades around 1.0900. The downside move in the shared currency pair started after a breakdown of the Double Top formation on a daily time frame near the September 11 low at around 1.1000, which resulted in a bearish reversal. The 14-day Relative Strength Index dives below 30.00, indicating a strong bearish momentum.
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