Feb 17, 2020
EUR/USD New York Price Forecast: Euro consolidates losses below 2019 low
- EUR/USD is consolidating sideways near 34-month lows as the new week is kicking off.
- The level to beat for bears is the 1.0826 support.
EUR/USD daily chart
EUR/USD is trading in a weak downtrend below the main daily simple moving averages (SMAs) as the spot remains under pressure near 34-month lows. The quote is trading just below the 2019 lows.
EUR/USD four-hour chart
EUR/USD broke below the downward channel while trading below its main SMAs on the four-hour chart. The spot is consolidating sideways while remaining under bearish pressure near 34-month lows. Sellers want a breakdown below the 1.0826 support level to drag the price down to the 1.0800 figure and 1.0756 price levels. Resistances are seen near the 1.0882, 1.0930 and 1.0984 levels, according to the Technical Confluences Indicator.
Resistance: 1.0882, 1.0930, 1.0984
Support: 1.0826, 1.0800, 1.0756
Additional key levels