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

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.