EUR/USD continues its descent for the second consecutive day, reaching around 1.0830 during the Asian session on Friday, driven by the impact of US Gross Domestic Product (GDP) data.

Technical analysis points to a prevailing bearish sentiment, particularly around the monthly support level at 1.0821. The 14-day Relative Strength Index (RSI) for the pair is currently below the 50 mark, indicating a bearish momentum. Additionally, the Moving Average Convergence Divergence (MACD) supports this trend, with the MACD line positioned below the centerline and diverging beneath the signal line.

For a potential shift in the pair’s direction, traders are closely monitoring the resistance level around 1.0850. A break above this point could provide support for the pair to approach the resistance zone near the 23.6% Fibonacci retracement and the 21-day Exponential Moving Average (EMA).