EUR/USD Price Analysis: 1.1325 appears a tough nut to crack for bulls

• EUR/USD looks vulnerable while below the 21 and 50-DMAs confluence.
• The Ukraine tensions spook markets, yields drag the USD lower.
• Bearish RSI keeps sellers hopeful, focus shifts to German ZEW Survey.

EUR/USD is losing conviction on its road to recovery above 1.1300, as sellers continue to lurk at higher levels.

The major attempts a rebound, snapping a two-day downtrend, as the US Treasury yields tumble amid a flight to safety into the bonds. This, in turn, is weighing negatively on the US dollar across its main rivals.

The tensions surrounding the Ukrainian crisis intensified, with war drums continue beating, in light of the latest tweets that reported a fresh arrival of war troops, machines near the Ukraine-Russia border.

Markets will continue to watch over the Russia-Ukraine crisis ahead of the German ZEW Survey and Eurozone GDP revision.

From a short-term technical perspective, the path of least resistance for EUR/USD appears down, as the bears are likely to remain in control so long as the 1.1325 upside barrier holds.

That level is the confluence of the 21 and 50-Daily Moving Averages (DMAs).

Acceptance above the latter will open doors towards the 1.1350 psychological level. The next relevant resistance is seen at 1.1405, the mildly bearish 100-DMA.

EUR/USD: Daily chart

The 14-day Relative Strength Index (RSI), however, remains bearish below the midline, suggesting that sellers will likely maintain control in the near term.

Therefore, a break below Monday’s low of 1.1280, will reopen the downside towards the February 3 low of 1.1267 and the 1.1250 round figure.

EUR/USD: Additional levels to consider