EUR/USD Technical Analysis: Bears threatening to break below 1.1530 key level as the Euro is setting up for further losses
|- EUR/USD is gaining bearish traction as the market is breaking below the 1.1530 key level and the 50-period simple moving average.
- The break of the level should open the door to further losses towards 1.1500 and 1.1463 (October 4 low). The RSI, MACD and Stochastic indicators are bearishly configured suggesting a downside continuation.
- A reversal up above 1.1630 should invalidate the bearish bias.
EUR/USD 4-hour chart
Spot rate: 1.1531
Relative change: 0.36%
High: 1.1580
Low: 1.1526
Main trend: Bearish
Resistance 1: 1.1569 Sept. 28 low
Resistance 2: 1.1600 figure
Resistance 3: 1.1630 August 8 high key level
Resistance 4: 1.1654 August 27 high
Support 1: 1.1530 August 23 swing low (key level)
Support 2: 1.1500 figure and October 2 swing low
Support 3: 1.1463 October 4 low
Support 4: 1.1430 October 9 low
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.