Looking at the 4-hour chart, the pair even settled below the 1.0850 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour).
Key highlights EUR/USD started a fresh decline below the 1.0820 support zone. A key bearish trend line is forming with resistance at 1.0875 on the 4-hour chart. EUR/USD technical analysis Looking at the 4-hour chart, the pair even settled below the 1.0850 level, the 100 simple moving average , and the 200 simple moving average . Finally, the pair traded below the 1.0820 support. A low was formed near 1.0767 and the pair is now consolidating losses.
The first major resistance is now forming near 1.0820. The main resistance is now forming near 1.0850. There is also a key bearish trend line forming with resistance at 1.0875 on the same chart. A close above the 1.0875 zone could open the doors for more upsides. The next stop for the bulls might be 1.0940. If not, the pair might continue to decline. Immediate support is near the 1.0775 level. The next major support is at 1.0750. If there is a downside break below the 1.
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