EUR/USD Technical Analysis: On offers for the third straight session, set-up in favor of bearish traders

   •  The pair remained under some selling pressure for the third consecutive session and extended the post-FOMC rejection slide from a descending trend-line resistance. 

   •  The mentioned trend-line extends from March 20 through April 17 swing high and might now act as an important pivotal point for the pair's next leg of a directional move.

   •  The overnight slide below 100-hour SMA was seen as a key trigger for bearish traders and one of the key factors prompting some follow-through technical selling.

   •  Meanwhile, technical indicators on 4-hourly/daily charts maintained their bearish bias and support prospects for the resumption of the well-established downtrend. 

   •  However, oscillators on the 1-hourly chart have moved on the verge of falling into oversold territory and might help limit further losses ahead of the flash Euro-zone inflation figures.

EUR/USD 1-hourly chart