- EUR/USD is under heavy bearish pressure at the end of the New York session.
- The market is ending Wednesday below the 1.1072 swing low opening the gates to further losses ahead.
EUR/USD daily chart
The Euro, on the daily chart, is trading in a bear trend below the 100 and 200-day simple moving averages (DMAs). This Wednesday the market consolidated Tuesday’s decline.
EUR/USD four-hour chart
The Euro is trading below the 50 and 100 SMAs on the four-hour chart. The market is about to close Wednesday’s New York session below the 1.1072 swing low which is seen as a rather bearish sign. Further losses can drive the market down towards the 1.1043, 1.1020 and 1.0997 price levels, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading at three-week lows below its main SMAs, suggesting a bearish momentum in the near term. The 1.1072 level can act as resistance as well as the 1.1089 level. Further up lie the 1.1129 and 1.1147 resistance levels, according to the Technical Confluences Indicator.
Additional key levels
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