EUR/USD technical analysis: Break of 3-week old support-line highlights 1.1110 for sellers

The immediate support-line break signal further declines to the latest lows.
Multiple resistances stand tall to confine the quote’s rise.

Anil Panchal FXStreet

Having breached short-term ascending trend-line support, the EUR/USD pair now trades near 1.1175 during the early Asian session on Friday.

Break of three-week-old support-line signals the quote’s further declines to 1.1145 and then to the latest low around 1.1110.

However, pair’s downside under 1.1110 might not hesitate to rush toward 1.0000 parity level with early May 2017 high of 1.1015 being likely intermediate halt.

Alternatively, 1.1215 and a downward sloping trend-line from March 22 at 1.1240 could question buyers.

Should prices rally past-1.1240, 1.1270, 1.1280 and 1.1330 can entertain the optimists.

EUR/USD 4-Hour chart

Trend: Bearish

Additional important levels

Overview
Today last price	1.1174
Today Daily Change	-4 pips
Today Daily Change %	-0.04%
Today daily open	1.1178

Trends
Daily SMA20	1.1199
Daily SMA50	1.1246
Daily SMA100	1.1314
Daily SMA200	1.1396

Levels
Previous Daily High	1.1226
Previous Daily Low	1.1166
Previous Weekly High	1.1254
Previous Weekly Low	1.1166
Previous Monthly High	1.1326
Previous Monthly Low	1.1111
Daily Fibonacci 38.2%	1.1189
Daily Fibonacci 61.8%	1.1203
Daily Pivot Point S1	1.1155
Daily Pivot Point S2	1.1131
Daily Pivot Point S3	1.1096
Daily Pivot Point R1	1.1214
Daily Pivot Point R2	1.1249
Daily Pivot Point R3	1.1273

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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