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  • The EUR/USD pair failed to hold on top of 1.1600 today, after being rejected from above 1.1700 last week and is about to post the fourth consecutive decline.  
  • The bearish momentum remains strong and the euro is likely to extend losses while under 1.1605 (downtrend line).  
  • On a wider perspective, EUR/USD is back into the previous trading range and a test of the lower bottom at 1.1520/30 is on the cards. A break lower could clear the way to more losses.  

EUR/USD 15-minute chart


Daily high: 1.1625
Daily low: 1.1563

Support Levels

S1: 1.1550
S2: 1.1520
S3: 1.1500

Resistance Levels

R1: 1.1585
R2: 1.1605
R3: 1.1630