- EUR/USD attempted a bull reversal and breakout above 1.1600 but bears remain in control as EUR/USD broke below the small intraday wedge formed in early Europe.
- EUR/USD is now trading below 1.1560, June 14 low.
- EUR/USD bears next objective is to break below the current 2018 low at 1.1508. They have a fair chance to succeed as the current bear momentum is strong and reversal attempts have been rather shallow.
EUR/USD 15-minute chart:
Spot rate: 1.1572
Relative change: 0.03%
High: 1.1600
Low: 1.1527
Trend: Bearish
Resistance 1: 1.1600 figure
Resistance 2: 1.1634 Monday’s low
Resistance 3: 1.1685 Monday intraday swing high
Resistance 4: 1.1700 figure
Resistance 5: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Support 1: 1.1560 June 14 low
Support 2: 1.1527 current weekly low
Support 3: 1.1508 current 2018 low
Support 4: 1.1431 weekly 100-period simple moving average
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