Key Highlights

  • EUR/USD extended decline below 1.1520 and 1.1500.
  • A major bearish trend line is forming with resistance near 1.1525 on the 4-hours chart.

EUR/USD Technical Analysis

Looking at the 4-hours chart, the pair settled below the 1.1520 level, the 200 simple moving average (green, 4-hours), and the 100 simple moving average (red, 4-hours).

There was a clear break below the 1.1450 level and the pair traded as low as 1.1431. It is now consolidating losses above the 1.1440 level. An immediate resistance is near the 1.1480 level. It is near the 23.6% Fib retracement level of the recent decline from the 1.1605 swing high to 1.1431 low.

The next major resistance is near the 1.1510 level. The main resistance is forming near 1.1520 and a bearish trend line. It is close to the 50% Fib retracement level of the recent decline from the 1.1605 swing high to 1.1431 low.

A clear break above the 1.1510 and 1.1520 resistance levels could open the doors for a steady increase. The next key resistance could be 1.1565.

An immediate support is near the 1.1440 level. The main breakdown support is near the 1.1435 level, below which there is a risk of a sharp decline. The next major support is near the 1.1250 level.

Titan FX is registered and regulated in New Zealand under FSP388647. Our global headquarters and operational hub is located in Auckland, New Zealand.

Feed news Join Telegram

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD climbs above 1.0600 amid renewed dollar weakness

EUR/USD climbs above 1.0600 amid renewed dollar weakness

EUR/USD has gathered bullish momentum and advanced beyond 1.0600 during the American trading hours on Monday. Following the mixed data releases, the US Dollar Index extended its slide below 104.00 and fueled the pair's rally in the second half of the day.

EUR/USD News

GBP/USD reverses direction, reclaims 1.2300

GBP/USD reverses direction, reclaims 1.2300

Following a dip below 1.2250 earlier in the day, GBP/USD reversed its course and reclaimed 1.2300. The broad-based selling pressure surrounding the greenback helps the pair push higher in the American session as investors assess the latest data releases.

GBP/USD News

Gold bears gearing up for a breakout

Gold bears gearing up for a breakout

XAUUSD is slowly gaining bearish traction, with sellers now aligned at lower levels. Gold advanced throughout the first half of the day, but trimmed gains and trades near a daily low of $1,820.63, as the dollar gathered momentum ahead of the US opening. 

Gold News

Everything you need to know about Shiba Inu’s Ryoshi Vision rewards before June 29

Everything you need to know about Shiba Inu’s Ryoshi Vision rewards before June 29

ShibaSwap, the native decentralized exchange of the Shiba Inu coin project, announced the distribution of Ryoshi Vision rewards within the next 48 to72 hours from June 26, 2022.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Majors

Cryptocurrencies

Signatures