- The pair bounced after finding support at the key 1.1520/30 support area. The rebound was not strong enough to remove bearish short-term signals.
- A consolidation on top of 1.1600 could lead to a test of the dynamic resistance currently at 1.1635/40 (downtrend line from August highs) and above that area more gains are seen.
- The current bias still favors the downside with the price below key MA in the 4 hours chart, but a break below 1.1520/30 is needed over the coming sessions to clear the way to more losses.
- Ahead of the Asian session, the bearish tone is likely to prevail while under 1.1605 and the immediate support for the euro is located around 1.1570.
EUR/USD 4-hour chart
Daily high: 1.1615
Daily low: 1.1525
R2: 1.1635 (downtrend line)
R3: 1.1655 (last week high)
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.