Early in the American session, the EUR/USD pair is trading around 1.0383, below the 21 SMA, and below the 200 EMA with a negative bias. The instrument is likely to continue falling in the next few days until it reaches 0/8 Murray located at 1.0253.

Technically, EUR/USD could find support around 1.0335, coinciding with the bottom of the bearish trend channel. From that point, a technical rebound could follow.

On the other hand, if EUR/USD consolidates above the 21 SMA and the 200 EMA located at 1.0417, we should expect it to break the bearish trend channel around 1.0425. Then, we could expect a change in the trend and the euro could reach 3/8 of Murray located at 1.0620.

The Eagle indicator is showing a negative signal, so we expect that the EUR/USD pair will continue its fall in the next few days and could reach the 1.0253 level that coincides with 0/8 Murray.