EUR/USD Technical Analysis: New York session can see bulls taking over the market to 1.1463 level

EUR/USD is trading in a bear leg below its 50, 100 and 200-period simple moving average.
In the London session bears extended the trend by breaking below last week low by about 30 pips.
EUR/USD is currently trying to stabilize in the New York session as bulls will try to reverse the early London decline. The RSI and Stochastics indicators are already in oversold territories suggesting that a pullback up to 1.1463 (last week low) can be on the cards. However, EUR/USD remains fragile as the main bias is to the downside.

Flavio Tosti Independent Analyst

EUR/USD 4-hour chart

Spot rate: 1.1447
Relative change: -0.39%
High: 1.1502
Low: 1.1432

Main trend: Bearish

Resistance 1: 1.1463 October 4 low
Resistance 2: 1.1500 figure and October 2, swing low
Resistance 3: 1.1530 August 23 swing low
Resistance 4: 1.1569 Sept. 28 low
Resistance 5: 1.1600 figure
Resistance 6: 1.1630 August 8 high key level
Resistance 7: 1.1654 August 27 high

Support 1: 1.1432 current October 9 low
Support 2: 1.1400 figure
Support 3: 1.1350 figure

Author

Flavio Tosti

Independent Analyst

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