EUR/USD Technical Analysis: Euro testing last week lows as bears keep the market below 1.1500 figure

EUR/USD is trading in a bear trend below the 200-period simple moving average.
EUR/USD is trading about 30-pips away from last week low at the 1.1430 level. The market remains weak with the RSI, MACD and Stochastic indicators in bearish territories. A break below 1.1430 would open the doors to 1.1400 and potentially the 2018 low at 1.1300 figure.
However, a breakout above 1.1500 would be a warning signal for bears.

Flavio Tosti Independent Analyst

EUR/USD 4-hour chart

Spot rate: 1.1460
Relative change: 0.07%
High: 1.1477
Low: 1.1433

Main trend: Bearish

Resistance 1: 1.1500 figure and October 2 swing low
Resistance 2: 1.1530 August 23 swing low (key level)
Resistance 3: 1.1569 Sept. 28 low
Resistance 4: 1.1600 figure
Resistance 5: 1.1630 August 8 high key level
Resistance 6: 1.1654 August 27 high

Support 1: 1.1463 October 4 low
Support 2: 1.1430 October 9 low
Support 3: 1.1400 figure

Author

Flavio Tosti

Independent Analyst

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