FXstreet.com (California) - The U.S. Dollar started the week slightly higher against major rivals, with EUR/USD gapping lower as the growing likelihood of a recession in both the euro zone and in the United States has kept the pair lacking in trend direction.

Form a technical standpoint, ?EUR/USD approached to the daily descendant trend line coming from 1.4940 several times over the past week, yet failed to break above it. Hourly chart at market opening shows price approaching a still bullish 20 SMA while indicators head south still above their midlines yet gaining bearish slope. 4 hours chart has a clear bearish tone, supporting a slide in the pair, while risk sentiment remains negative, also favoring the downside this Monday,? comments Valeria Bednarik, Chief Analyst at FXstreet.com.

At the time of writing, EUR/USD is under slight pressure in Asia, last quoted in the 1.4365 price zone, 10 pips below its starting price. To the downside, support levels lie at 1.4360, 1.4325 and 1.4290. To the upside, resistance levels lie at 1.4385, 1.4410 and 1.4445.