EUR/USD Technical Analysis: Bearish pressure set to persist on Tuesday

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  • EUR/USD is in a bear trend below its 200-period simple moving average.  
  • EUR/USD is under pressure trading near monthly lows below the 1.1500 figure after the market rejected the 50 and 100-period simple moving averages. While the market can have pullbacks near 1.1500, EUR/USD is set to remain under bearish pressure. Bears objective is to drive the market near 1.1430 (October low), 1.1400 and ultimately 1.1300 figure (2018 low).
  • A bull breakout above 1.1530 would be a warning signal for bears.

EUR/USD 4-hour chart


	EUR/USD Technical Analysis: Bearish pressure set to persist on Tuesday

Spot rate:             1.1466
Relative change:  -0.41%  
High:                    1.1551
Low:                     1.1455

Main trend:             Bearish

Resistance 1:   1.1500 figure and October 2 swing low 
Resistance 2:   1.1530 August 23 swing low (key level)
Resistance 3:   1.1569 Sept. 28 low
Resistance 4:   1.1600 figure
Resistance 5:   1.1630 August 8 high key level
Resistance 6:   1.1654 August 27 high

Support 1:   1.1463 October 4 low
Support 2:   1.1430 October 9 low
Support 3:   1.1400 figure
Support 4:   1.1300 current 2018 low

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