EURUSD is looking to consolidate below the 1.0700 key support level

The EURUSD is very strong in the current bearish bias, as the pair has been trading below the 200 SMA during this week.

In an intraday outlook, the EURUSD broke the important supports at the 1.0796 and 1.0760 levels, which are also below the daily pivot point zone of 1.0845. We could expect more downside moves on the EURUSD, but first, we should see rebounds, at least until the resistance zone of 1.0796.

The MACD indicator is still at negative territory and remains strong there.

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