EUR/USD Technical Analysis: EUR/USD bearish pullback can extend to 1.1630 key level

• EUR/USD main bear trend is switching to bullish as EUR/USD is trading above its 50-day simple moving average.
• EUR/USD broke below the bull trendline (green) and the 1.1700 figure. It is currently testing the 100-period simple moving average. The RSI, MACD and Stochastics are in bearish territories suggesting more losses ahead.
• The next relevant level of support is seen near 1.1630 (August 8 high key level) and 1.1600 figure.  

EUR/USD 4-hour chart

Spot rate:             1.1680
Relative change:   -0.50%
High:                    1.1758
Low:                     1.1670

Main trend:                    Bullish

Resistance 1:   1.1723 September 24 low
Resistance 2:   1.1750 key level (July)
Resistance 3:   1.1800 figure
Resistance 4:   1.1853 June 14 high
Resistance 5:   1.1900 figure

Support 1:   1.1654 August 27 high
Support 2:   1.1630 August 8 high key level
Support 3:   1.1600 figure
Support 4:   1.1572 July 19 low
Support 5:   1.1542 supply/demand level
Support 6:   1.1530 August 23 swing low
Support 7:   1.1508 June 8 low