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EUR/USD Price Analysis: Euro trading in 33-month lows, sub-1.0900 level

  • EUR/USD dropped below the 2019 low at 1.0879 as bears are looking to have a daily close below the level.
  • The level to beat for bears is the 1.0835 support. 

 

EUR/USD daily chart 

 
The euro is trading in a weak bear trend under its main daily simple moving averages (SMAs) as the quote is trading just below the 2019 low. 
 

EUR/USD four-hour chart

 
EUR/USD broke below a bear channel while trading well below the main SMAs on the four-hour chart. Sellers stay in control and are looking to extend losses below the 1.10835 support en route towards the 1.0800 figure and the 1.0756 level on the way down, according to the Technical Confluences Indicator. Strong resistance is seen near the 1.0880 level. Further up lie the 1.0930 and 1.0982 resistances. 
 
 
Resistance: 1.0880, 1.0930, 1.0982
Support: 1.0835, 1.0800, 1.0756
 
 

Additional key levels 

 

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