EUR/USD Technical Analysis: USD bulls show no mercy as EUR/USD breaks below 1.1730 key support

EUR/USD just broke a key support at 1.1730 and is continuing to melt down below the 1.1700 figure at the time of writing.
EUR/USD is trading at 6-day’s low and below its 50, 100 and 200-period simple moving average on the 4-hour chart suggesting a bearish bias.
EUR/USD will need to stay below 1.1730 or else the market can get back into trading range mode.

Flavio Tosti Independent Analyst

EUR/USD 15-minute chart

Spot rate: 1.1678
Relative change: -0.96%
High: 1.1853
Low: 1.1674

Trend: bearish below 1.1730

Resistance 1: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Resistance 2: 1.1775 supply/demand level
Resistance 3: 1.1800-1.1850 area, figure

Support 1: 1.1650 June 5 low
Support 2: 1.1615 June 1 swing low
Support 3: 1.5100, 2018 low

Author

Flavio Tosti

Independent Analyst

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