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EUR/USD Technical Analysis: Soft bounce in progress from current lows

  • The Euro is seeing a mild recovery through Thursday’s Asia window after a steady tumble on trade tariffs.
  • The EUR/USD is still marking in higher lows on H4 candles, but bearish action remains stiff with a lower high on the Dailies.
  • The Euro is close to the year’s lows at the 1.1500 level.

EUR/USD Chart, 15-Minute

Spot rate:   1.1684
Relative change:   0.12%
High:   1.1685
Low:   1.1668
   
Trend:   Bearish
   
Support 1:   1.1665 (previous day low)
Support 2:   1.1627 (61.8% Fibo retracement level)
Support 3:   1.1590 (previous week low)
   
Resistance 1:   1.1758 (previous day high)
Resistance 2:   1.1790 (current week high)
Resistance 3:   1.1850 (major technical level; June 14th swing high)

 

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