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  • EUR/USD is trading in a bear leg below its 50, 100 and 200-period simple moving average.  
  • EUR/USD erased the losses made earlier in the day as the market reintegrated last week low at 1.1463.  Technically EUR/USD remains bearish as the market is making lower lows and lower highs. The move up this Tuesday seems to be exhausted at this stage.
  • The strong reintegration of the 1.1463 is a sign of bearish weakness and the market might be transitioning to a range phase in the coming sessions. The key zone to watch is the 1.1500-1.1530 as a break above it can lead to a reversal up.  

EUR/USD 4-hour chart

Spot rate:             1.1480
Relative change:  -0.08%  
High:                    1.1502
Low:                     1.1432

Main trend:         Bearish

Resistance 1:   1.1500 figure and October 2, swing low  
Resistance 2:   1.1530 August 23 swing low
Resistance 3:   1.1569 Sept. 28 low
Resistance 4:   1.1600 figure
Resistance 5:   1.1630 August 8 high key level
Resistance 6:   1.1654 August 27 high

Support 1:   1.1463 October 4 low
Support 2:   1.1432 current October 9 low
Support 3:   1.1400 figure
Support 4:   1.1350 figure