- EUR/USD is stalling below the 1.1600 figure after the release of the US Gross Domestic Product and the Personal Consumption Expenditure, the data came in mixed.
- EUR/USD is attempting to reverse the current bear trend as it found a floor near the 1.1500 level earlier in Europe. It is now trapped in a bearish wedge.
- A failure to break above 1.1600 can lead to e resumption of the bear trend.
Spot rate: 1.1581
Relative change: 0.30%
High: 1.1600
Low: 1.1527
Trend: Bearish
Resistance 1: 1.1600 figure
Resistance 2: 1.1634 Monday’s low
Resistance 3: 1.1685 Monday intraday swing high
Resistance 4: 1.1700 figure
Resistance 5: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Support 1: 1.1560 June 14 low
Support 2: 1.1508 current 2018 low
Support 3: 1.1431 weekly 100-period simple moving average
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