- EUR/USD is down about 45 pips since Asia. EUR/USD bulls are slowly getting out of what seems to be a crowded trade to the upside.
- A failure to recapture the weekly high at 1.1790 can leave EUR/USD exposed to further losses towards 1.1600 in the coming days.
- EUR/USD is trying to find some support at 1.1700 but bull attempts should be capped in the 1.1730-1.1740 area if the bears keep the momentum going.
EUR/USD 15-minute chart
Spot rate: 1.1715
Relative change: 0.30%
High: 1.1763
Low: 1.1690
Trend: Neutral to bearish
Resistance 1: 1.1730-1.1740 23.6% Fibonacci retracement from mid-April-May bear move and weekly open.
Resistance 2: 1.1775 supply level
Resistance 3: 1.1800 figure
Resistance 4: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move
Support 1 1.1700 figure
Support 2: 1.1672 June 27 high
Support 3: 1.1640 supply/demand level
Support 4: 1.1600 figure
Support 5: 1.1560 June 14 low
Support 6: 1.1508 current 2018 low
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