The EUR/USD pair slid over during the Asian session, as no progress has been made in Greek talks. In fact, a French news-paper published some tough statements from PM Tsipras, blaming its creditors from that lack of progress. European stocks are falling sharply on investors distrust, whilst the EUR is also under pressure, aiming to break below the 1.0900 level in the European morning.
The EUR/USD 4 hours chart shows that the price extends below its 20 SMA whilst the technical indicators have entered negative territory, maintaining sharp bearish slopes, supporting additional declines. The pair has an immediate support in the 1.0880 price zone, so a break below it should lead to additional declines towards the 1.0820/40 region. A break below 1.0818, May low, should see the bearish momentum accelerate towards the 1.0760 level.
To the upside, 1.0930 is the immediate intraday resistance, followed by 1.0960. Only above this last the pair will be able to regain is charm and advance towards the 1.1000 region.
View live chart of the EUR/USD
The EUR/USD 4 hours chart shows that the price extends below its 20 SMA whilst the technical indicators have entered negative territory, maintaining sharp bearish slopes, supporting additional declines. The pair has an immediate support in the 1.0880 price zone, so a break below it should lead to additional declines towards the 1.0820/40 region. A break below 1.0818, May low, should see the bearish momentum accelerate towards the 1.0760 level.
To the upside, 1.0930 is the immediate intraday resistance, followed by 1.0960. Only above this last the pair will be able to regain is charm and advance towards the 1.1000 region.
View live chart of the EUR/USD
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