EUR/USD Technical Analysis: Euro heading for 1.17 as bears take hold

  • Wednesday brings a speech from ECB President Mario Draghi, and the Euro is softly bearish ahead of the action.
  • The Euro's recent technical recovery is coming under fire as broader market sentiment gets wiped out by more ramping-up of the US-China trade war.

EUR/USD Chart, 15-Minute

Spot rate:  1.1730
Relative change:  -0.09%
High:  1.1746
Low:  1.1722
   
Trend:  Bearish
   
Support 1:  1.1689 (38.2% Fibo retracement level)
Support 2:  1.1627 (61.8% Fibo retracement level)
Support 3:  1.1590 (previous week low)
   
Resistance 1:  1.1762 (previous day high)
Resistance 2:  1.1790 (current week high)
Resistance 3: 1.1850 (one month high)

 

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