Search ForexCrunch
  • EUR/USD is currently trading in a bear leg below its 50, 100 and 200-period simple moving averages.
  • EUR/USD is currently testing last week low at 1.1463, if the market break the downside it can lead to a strong bear breakout to 1.1400.  
  • As it stands the bears have not gathered enough conviction yet to break below 1.1463, therefore a rebound above the level in the New York session can be on the cards. Resistance to the upside can be seen near 1.1500 and 1.1530.  

EUR/USD 4-hour chart

Spot rate:             1.1476
Relative change:  -0.39%  
High:                    1.1530
Low:                     1.1465

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:   1.1400 figure
Support 3:   1.1350 figure