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  • EUR/USD is prolonging the recovery from Friday’s lows in the 1.1620 region amidst a continuation of the selling mood around the greenback.
  • The outlook remains offered as long as it trades below the short-term resistance line – today at 1.1732 – and July’s top at 1.1792.
  • On the downside, the 21-day SMA at 1.1689 offers initial contention. This area is reinforced by the base of the daily cloud.
  • Furthermore, EUR/USD could be carving a descending triangle.

EUR/USD daily chart




Daily high: 1.1732

Daily low: 1.1700

Support Levels

S1: 1.1663

S2: 1.1619

S3: 1.1591

Resistance Levels

R1: 1.1735

R2: 1.1763

R3: 1.1807