EUR/USD Technical Analysis: Bearish pressure set to persist on Tuesday
|- EUR/USD is in a bear trend below its 200-period simple moving average.
- EUR/USD is under pressure trading near monthly lows below the 1.1500 figure after the market rejected the 50 and 100-period simple moving averages. While the market can have pullbacks near 1.1500, EUR/USD is set to remain under bearish pressure. Bears objective is to drive the market near 1.1430 (October low), 1.1400 and ultimately 1.1300 figure (2018 low).
- A bull breakout above 1.1530 would be a warning signal for bears.
Spot rate: 1.1466
Relative change: -0.41%
High: 1.1551
Low: 1.1455
Main trend: Bearish
Resistance 1: 1.1500 figure and October 2 swing low
Resistance 2: 1.1530 August 23 swing low (key level)
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: 1.1430 October 9 low
Support 3: 1.1400 figure
Support 4: 1.1300 current 2018 low
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