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  • EUR/USD is correcting after a massive drop in the last days. 
  • The level to beat for bears is the 1.0852 support.

EUR/USD daily chart 

EUR/USD almost reached the 2020 low at 1.0777 this Wednesday as the market hit 1.0801 intraday on broad-based USD strength. 

EUR/USD four-hour chart

The spot is rebounding slightly from the 1.0800 figure, however, the bearish pressure should remain unabated especially below the 1.0942/76 resistance zone and the 1.1050 level near the 200 SMA. Bears are looking for a break below the 1.0852 level which would introduce scope for a move down to the 1.0783 and 1.0700 price levels according to the Technical Confluences Indicator.
Resistance: 1.0942, 1.0976, 1.1050
Support: 1.0852, 1.0783, 1.0700 

Additional key levels