- EUR/USD is near 1.1530 key support as bears want to break below it in order to resume the bear trend.
- EUR/USD is trading below its 50, 100 and 200-period simple moving average (SMA). However the SMAs are relatively flat and there has been no crossover yet, suggesting a sideways to down bias. The MACD is bearish while the RSI and Stochastics indicators are in oversold condition and showing divergence with the current price, which is potentially bullish.
- Bears are currently strong and their objective is to have a meaningful breakout below 1.1530. In the absence of such breakout, bulls will try to stabilize the market near the 1.1530 level.
Spot rate: 1.1540
Relative change: -0.34%
High: 1.1581
Low: 1.1505
Main trend: Bullish
Short-term trend: Bearish below 1.1569
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
Resistance 5: 1.1723 September 24 low
Resistance 6: 1.1750 key level (July)
Resistance 7: 1.1800 figure
Resistance 8: 1.1853 June 14 high
Resistance 9: 1.1900 figure
Support 1: 1.1542 supply/demand level
Support 2: 1.1530 August 23 swing low
Support 3: 1.1491 August 21 low
Support 4: 1.1400 figure