EUR/USD Technical Analysis: Bulls limit losses as EUR/USD rebounds and challenge 1.1630 key resistance

86
  • EUR/USD bears want to re-establish the main bear trend of the last months but they need a break below 1.1530 key support level.
  • EUR/USD found support near 1.1570 and the bulls are currently challenging the 1.1630 resistance level and the 200-period simple moving average. The RSI and Stochastics are gaining bullish traction while the MACD is slightly decelerating.
  • A break above 1.1630 should open the door to 1.1700 figure. 

EUR/USD 4-hour chart 


	EUR/USD Technical Analysis: Bulls limit losses as EUR/USD rebounds and challenge 1.1630 key resistance

Spot rate:             1.1623
Relative change:  -0.14%  
High:                    1.1652
Low:                     1.1569

Main trend:                    Bullish

Resistance 1:   1.1600 figure
Resistance 2:   1.1630 August 8 high key level
Resistance 3:   1.1654 August 27 high
Resistance 4:   1.1723 September 24 low
Resistance 5:   1.1750 key level (July)
Resistance 6:   1.1800 figure
Resistance 7:   1.1853 June 14 high
Resistance 5:   1.1900 figure

Support 1:   1.1600 figure
Support 2:   1.1572 July 19 low
Support 3:   1.1542 supply/demand level
Support 4:   1.1530 August 23 swing low
Support 5:   1.1508 June 8 low

LEAVE A REPLY

Please enter your comment!
Please enter your name here