Search ForexCrunch
  • EUR/USD is under heavy bearish pressure while trading in 37-month lows.
  • EUR/USD records its worst daily decline since June 2018
  • The level to beat for bears is the 1.0662 support.
 

EUR/USD daily chart 

 
EUR/USD broke to fresh 2020 lows on exceptional USD demand as the spot is trading in 37-month lows. The euro recorded its worst daily decline against the dollar since June 2018. 
  

EUR/USD four-hour chart

 
The spot is pressuring the 1.0662 support while under heavy bearish pressure below the main SMAs. Sellers are looking for a break below the above-mentioned level which could introduce scope for an extension down to the 1.0620 and 1.0540 price levels according to the Technical Confluences Indicator. Resistance is seen near the 1.0728, 1.0784 and 1.0850 price levels on the way up.  
 
  
Resistance: 1.0728, 1.0784, 1.0850
Support: 1.0662, 1.0620, 1.0540
 
 

Additional key levels