EUR/USD Technical Analysis: Euro testing last week lows as bears keep the market below 1.1500 figure

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  • EUR/USD is trading in a bear trend below the 200-period simple moving average.
  • EUR/USD is trading about 30-pips away from last week low at the 1.1430 level. The market remains weak with the RSI, MACD and Stochastic indicators in bearish territories. A break below 1.1430 would open the doors to 1.1400 and potentially the 2018 low at 1.1300 figure. 
  • However, a breakout above 1.1500 would be a warning signal for bears.

EUR/USD 4-hour chart


	EUR/USD Technical Analysis: Euro testing last week lows as bears keep the market below 1.1500 figure

Spot rate:             1.1460
Relative change:   0.07%  
High:                    1.1477
Low:                     1.1433

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

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