Home EUR/USD Technical Analysis: Bears threatening to break below 1.1530 key level as the Euro is setting up for further losses
FXStreet News

EUR/USD Technical Analysis: Bears threatening to break below 1.1530 key level as the Euro is setting up for further losses

  • EUR/USD is gaining bearish traction as the market is breaking below the 1.1530 key level and the 50-period simple moving average.
  • The break of the level should open the door to further losses towards 1.1500 and 1.1463 (October 4 low). The RSI, MACD and Stochastic indicators are bearishly configured suggesting a downside continuation.
  • A  reversal up above 1.1630 should invalidate the bearish bias.

EUR/USD 4-hour chart  

Spot rate:             1.1531
Relative change:  0.36%  
High:                    1.1580
Low:                     1.1526

Main trend:             Bearish

Resistance 1:   1.1569 Sept. 28 low
Resistance 2:   1.1600 figure
Resistance 3:   1.1630 August 8 high key level
Resistance 4:   1.1654 August 27 high

Support 1:   1.1530 August 23 swing low (key level)
Support 2:   1.1500 figure and October 2 swing low  
Support 3:   1.1463 October 4 low
Support 4:   1.1430 October 9 low

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.