- EUR/USD started the week by dropping about 40 pips to 1.1529 testing the June 28 low at 1.1527.
- The bears objective is to extend the bear trend below 1.1527 and 1.1508, the current 2018 low while bulls will try to support the market near the current price.
- EUR/USD is currently having a small 15 pips move us as bulls are trying to form a double bottom with June 26 low. Resistances to the upside are seen near 1.1560 and 1.1600-1.1613 area.
EUR/USD 15-minute chart
Spot rate: 1.1541
Relative change: -0.23%
High: 1.1572
Low: 1.1529
Trend: Bearish / Double bottom attempt with June 28 low at 1.1527
Resistance 1: 1.1560 August 3 low
Resistance 2: 1.1600-1.1613 area, figure and July 13 low
Resistance 3: 1.1640-1.1649 area, key level and July 12 low
Resistance 4: 1.1672 June 27 high
Resistance 5: 1.1700 figure
Resistance 6: 1.1750 supply level
Resistance 7: 1.1760-1.1795 supply levels
Resistance 8: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move
Support 1: 1.1527 June 28 low
Support 2: 1.1508 current 2018 low
Support 3: 1.1370 July 13, 2017 1.1370 low
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