EUR/USD Technical Analysis: EUR/USD capped at 1.1630 and declining towards 1.1530 key support

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  • EUR/USD bears are keeping the pressure on the single currency. 
  • EUR/USD is trading below its 50, 100 and 200-period simple moving average as the market is consolidating the recent losses near the 1.1600 level. In this context, EUR/USD is set to decline further and test 1.1530. 
  • However, a breakout above 1.1630 might lead to a bullish reversal. 

EUR/USD 4-hour chart


	EUR/USD Technical Analysis: EUR/USD capped at 1.1630 and declining towards 1.1530 key support

Spot rate:             1.1620
Relative change:  -0.13%  
High:                    1.1625
Low:                     1.1573

Main trend:                    Bullish
Short-term trend:           Bearish below 1.1630

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

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