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EUR/USD Price Analysis: Euro keeps melting down, nearing 1.0900 figure

  • EUR/USD is trading near levels not seen since October 2019.
  • EUR/USD is under heavy selling pressure near 1.0914 support.  
 

EUR/USD daily chart 

 
EUR/USD is trading in a weak bear trend below its main simple moving averages (SMAs) as the spot is sinking to levels not seen since October 2019.
 

EUR/USD four-hour chart

 
EUR/USD broke below the bear channel while under its main SMAs. Sellers are looking for a break below the 1.0914 support and target the 1.0880 and 1.0846 levels on the way down, according to the Technical Confluences Indicator. Resistances are seen near 1.0948, 1.0980, 1.1000 figure.
 
 
Resistance: 1.0948, 1.0980, 1.1000
Support: 1.0914, 1.0880, 1.0846
 
 

Additional key levels 

 

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