EUR/USD Technical Analysis: Focus on key support zone of 1.1440-1.1432

• The EUR/USD has carved a lower high along the downward sloping 50-hour simple moving average (SMA) and 100-hour SMA in the last 24 hours.
• The hourly RSI is printing bearish levels below 50.00.
• The 5-day and 10-day SMAs are trending south, indicating a bearish setup.
• As a result, the spot could soon find acceptance below the rising channel support of 1.1463 and drop to 1.1439 (previous day’s low) and 1.1432 (double bottom).

Hourly Chart

Spot Rate: 1.1466

Daily High: 1.1475

Daily Low: 1.1461

Resistance

R1: 1.1480 (5-day EMA)

R2: 1.1501 (10-day EMA)

R3: 1.1550 (Oct. 22 high)

Support

S1: 1.1463 (channel support)

S2: 1.1432 (double bottom)

S3: 1.14 (psychological support)