EUR/USD lost the 1.1000 level before the release of US figures, triggering stops and extending its slump afterwards to the current 1.0980 price zone. Valeria Bednarik from FXStreet analyzes the EUR/USD pair from a technical perspective. Key quotes “The pair is now trading below the 61.8% retracement of its February/March rally at 1.1050, a relevant resistance area.” “In the 4-hour chart, it has broken below all of its moving averages, while technical indicators have turned sharply lower, entering oversold territory with almost vertical slopes.” “Despite oversold conditions, the pair could continue to fall in the upcoming session, particularly if the risk-related sentiment remains sour.” “Support levels: 1.0950 1.0920 Resistance levels: 1.1015 1.1050.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Fed’s Mester: Rate cuts have less of an impact in current environment FX Street 2 years EUR/USD lost the 1.1000 level before the release of US figures, triggering stops and extending its slump afterwards to the current 1.0980 price zone. Valeria Bednarik from FXStreet analyzes the EUR/USD pair from a technical perspective. Key quotes “The pair is now trading below the 61.8% retracement of its February/March rally at 1.1050, a relevant resistance area.” “In the 4-hour chart, it has broken below all of its moving averages, while technical indicators have turned sharply lower, entering oversold territory with almost vertical slopes.” “Despite oversold conditions, the pair could continue to fall in the upcoming session, particularly if the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
