EUR/USD Technical Analysis: Underlying tone remains negative. The pair could still break below 1.1500

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  • The pair is now recovering ground lost after five consecutive sessions with losses and after bottoming out in the 1.1500 neighbourhood on Tuesday.
  • A breach below 1.1508 should open the door to a visit of 1.1449 (50% Fibo retracement of the 2017-2018 up move).
  • Further south aligns the so far YTD low at 1.1299, recorded on August 15.
  • The corrective downside should persists as long as the short-term resistance line, today at 1.1738, underpins.

EUR/USD daily chart


	EUR/USD Technical Analysis: Underlying tone remains negative. The pair could still break below 1.1500

Daily high: 1.1594

Daily low: 1.1535

Support Levels

S1: 1.1508

S2: 1.1469

S3: 1.1432

Resistance Levels

R1: 1.1584

R2: 1.1620

R3: 1.1660

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