EUR/USD Price Analysis: Keeps the bearish vibe unchanged below 1.0770

• EUR/USD loses momentum near 1.0760 amid renewed USD demand. 
• The pair keeps the bearish outlook unchanged below the key EMA; RSI indicator lies below the 50-midlines. 
• The first resistant level will emerge at 1.0790; the key support level is seen at 1.0700.

The EUR/USD pair trades on a softer note during the early European trading hours on Friday. The renewed US Dollar (USD) demand and dovish comments from the European Central Bank (ECB) policymakers weigh on the major pair. EUR/USD currently trades around 1.0760, down 0.11% on the day. 

The ECB Governing Council member Francois Villeroy de Galhau said on Friday that the central bank should not wait too long to cut rates and ECB will still have flexibility over the pace and degree of policy easing after its first move, 

According to the four-hour chart, the bearish view of EUR/USD remains intact as the major pair is below the 100-period Exponential Moving Averages (EMA). The downward momentum is supported by the Relative Strength Index (RSI), which lies below the 50-midlines, indicating that the path of least resistance level is to the downside.  

On the bright side, the first upside barrier for EUR/USD will emerge at the conference of the the 100-period EMA and the upper boundary of the Bollinger Band at 1.0790. A bullish breakout above this level will see a rally to a high of January 26 at 1.0885. Further north, the next hurdle is seen at the 1.0900 psychological round figure. 

On the downside, the critical support level for the major pair is located near a round mark and a low of February 13 at 1.0700. The additional downside filter to watch is the lower limit of the Bollinger Band at 1.0687. A break below the latter will expose a low of November 9 at 1.0660.

EUR/USD four-hour chart