EUR/USD: Break below 1.0770 exposing the yearly low at 1.0635
|The EUR/USD pair has been unable to surpass the 61.8% retracement of its latest daily advance at around 1.0830, meeting sellers around it, FXStreet’s Chief Analyst Valeria Bednarik reports.
Key quotes
“The EUR/USD pair is bearish, according to the 4-hour chart, as moving averages accelerate south above the current level, while technical indicators gain bearish traction within negative levels.”
“The immediate support is the 1.0770 area, where the pair bottomed last Friday, with a break below the level exposing the yearly low at 1.0635.”
“Support levels: 1.0770 1.0725 Resistance levels: 1.0830 1.0860”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.