- EUR/USD is near 1.1530 key support level as bear are challenging the bull trend.
- EUR/USD is trading below the 50, 100 and 200-period simple moving averages while it is just hanging above 1.1530 support. The RSI, MACD and Stochastics indicators are slightly negative, all suggesting bearish momentum for the near-future. Bulls will try to support the market above 1.1530 support.
- However, a meaningful bear breakout below 1.1500-1.1530 and a daily close below the levels could put the bull trend to an end.
EUR/USD 4-hour chart
Spot rate: 1.1536
Relative change: -0.10%
High: 1.1594
Low: 1.1530
Main trend: Bullish
Short-term trend: Bearish below 1.1530
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: 1.1500 figure
Support 4: 1.1491 August 21 low
Support 5: 1.1400 figure
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