EUR/USD short-term technical outlook
The EUR/USD pair trades in the 1.1710 price zone, having bounced from the mentioned low but still at risk of falling. The 4-hour chart shows that the pair remains well below all of its moving averages, with the 20 SMA maintaining a bearish slope below the longer ones. Technical indicators bounced from oversold readings but quickly lost momentum, holding well into negative levels. The risk is skewed to the downside, with room for an extension toward the 1.1620 price zone.
Support levels: 1.1700 1.1660 1.1620
Resistance levels: 1.1750 1.1790 1.1830
Source of fundamenal analysis :- Click here
The EUR/USD pair trades in the 1.1710 price zone, having bounced from the mentioned low but still at risk of falling. The 4-hour chart shows that the pair remains well below all of its moving averages, with the 20 SMA maintaining a bearish slope below the longer ones. Technical indicators bounced from oversold readings but quickly lost momentum, holding well into negative levels. The risk is skewed to the downside, with room for an extension toward the 1.1620 price zone.
Support levels: 1.1700 1.1660 1.1620
Resistance levels: 1.1750 1.1790 1.1830
Source of fundamenal analysis :- Click here