- The EUR/USD reversed sharply after the ECB meeting and Draghi’s press conference and tumbled also amid a stronger US dollar, breaking below yesterday’s low.
- The negative momentum remains highs despite oversold readings in some short-term technical indicators. Below 1.1350, a test of 2018 lows at the 1.1300 psychological area seems likely.
- A recover above 1.1385 is needed to remove some short-term pressure. But any move higher, while under 1.1500, could be seen as a correction of the bearish trend the remains intact.
EUR/USD 15-minute chart
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Daily high: 1.1432
Daily low: 1.1357
Support Levels
S1: 1.1350
S2: 1.1325
S3: 1.1300/05 (2018 lows)
Resistance Levels
R1: 1.1375
R2: 1.1405
R3: 1.1430
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