EUR/USD Technical Analysis: Euro staying supported above 1.1500 in the New York session as bulls can target 1.1550 level

EUR/USD is trading in a bear leg below the 200-period simple moving average.
EUR/USD found some decent support near the 1.1500 figure as the market is trading far away from its flat 50 SMA while the Stochastic indicator is picking up. All suggesting that bulls can have the upper hand in the New York session with a potential move up to 1.1550 figure.
A bear breakout below 1.1500 on a daily closing basis would be seen as bearish.

Flavio Tosti Independent Analyst

EUR/USD 4-hour chart

Spot rate: 1.1507
Relative change: -0.06%
High: 1.1528
Low: 1.1481

Main trend: Bearish
Short-term: Bullish

Resistance 1: 1.1530 August 23 swing low (key level)
Resistance 2: 1.1569 Sept. 28 low
Resistance 3: 1.1600 figure
Resistance 4: 1.1630 August 8 high key level
Resistance 5: 1.1654 August 27 high

Support 1: 1.1500 figure and October 2 swing low
Support 2: 1.1463 October 4 low
Support 3: 1.1430 October 9 low

Author

Flavio Tosti

Independent Analyst

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