EUR/USD Technical Analysis: Euro is finding support at 1.1530 key level

  • EUR/USD is trading in a bull leg and is currently finding some support at the 1.1530 key level. 
  • EUR/USD is entering a consolidation phase between the 50 and 100-period simple moving averages. The RSI and Stochastic indicators are turning lower but still above the 50 line which is considered bullish. 
  • If 1.1530 hold, bulls first objective will be a retest of 1.1600 figure while a breakout below 1.1530 can lead to 1.1463 (October 4 low)

EUR/USD 4-hour chart

Spot rate:             1.1562
Relative change:  -0.27%  
High:                    1.1611
Low:                     1.1534

Main trend:             Bearish
Short-term trend:    Bullish

Resistance 1:   1.1569 Sept. 28 low
Resistance 2:   1.1600 figure
Resistance 3:   1.1630 August 8 high key level
Resistance 4:   1.1654 August 27 high


Support 1:   1.1530 August 23 swing low (key level)
Support 2:   1.1500 figure and October 2 swing low 
Support 3:   1.1463 October 4 low
Support 4:   1.1430 October 9 low

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