- EUR/USD is currently trading near the daily lows near the 1.1650 level.
- Earlier in the day EUR/USD failed to breakout above the 1.1730 level which is the 23.6% Fibonacci retracement from the mid-April-May bear move.
- EUR/USD is seen bearish in the short-term as the 50-period simple moving average has crossed below the 200-period SMA forming death cross. If EUR/USD stays contained below 1.1685 intraday swing high it could lead to further losses towards the 1.1600 figure.
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Spot rate: 1.1650
Relative change: -0.47%
High: 1.1721
Low: 1.1634
Trend: Bearish
Resistance 1: 1.1685 intraday swing high
Resistance 2: 1.1700 figure
Resistance 3: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Support 1: 1.1634 current week’s low
Support 2: 1.1600 figure
Support 3: 1.1550 demand level
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