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Key Highlights
- EUR/USD extended decline below the 1.0950 support.
- It broke a key bullish trend line with support near 1.0980 on the 4-hours chart.
EUR/USD Technical Analysis
Looking at the 4-hours chart, the pair even traded below the 1.1000 level, the 200 simple moving average (green, 4-hours), and the 100 simple moving average (red, 4-hours).
There was a break below a key bullish trend line with support near 1.0980 on the same chart. The pair traded as low as 1.0835 and is currently consolidating losses. An immediate resistance on the upside is near the 1.0915 level.
The first major resistance is near the 1.0950 level (the previous support zone). The next major resistance is near the 1.1000 level. Any more gains might send the pair towards the 1.1050 level in the coming sessions.
On the downside, an immediate support is near the 1.0840 level. The next major support is near the 1.0820 level. A downside break below the 1.0820 support level might send the pair towards the 1.0750 level.
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