EUR/USD: New lows are on the cards

FXStreet Team FXStreet

EUR/USD Friday’s four-hour chart is decidedly bearish, pointing to losses, according to FXStreet’s analyst Yohay Elam.

Key quotes

“The EUR/USD pair is trading below the 50, 100, and 200 Simple Moving Averages, and the Relative Strength Index is above 30 – outside oversold conditions.”

“Support awaits at 1.0820, Thursday’s low, followed by 1.0750, which was a stepping stone on the way up.”

“Resistance awaits at 1.09, which provided support earlier this week, and it is followed by 1.0970, which held it down around the same time.”

Author

FXStreet Team

FXStreet

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