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EUR/USD Technical Analysis: Bear trend ready to resume below 1.1400 figure

  • EUR/USD main bear trend is set to resume as the market has tested the 1.1400 psychological level. 
  • EUR/USD made two attempts to break above 1.1400 figure but bulls were unable to sustain the bullish pullback above the figure. Short-term targets to the downside are located near 1.1336 (current daily low) and 1.1300 (2018 low). 
  • A sustained bull breakout above 1.1400 would negate the bearish bias. 

EUR/USD 15-minute chart

Spot rate:             1.1378
Relative change:   0.29%  
High:                    1.1399
Low:                     1.1335

Trend:                  Bearish 

Resistance 1:  1.1400 figure
Resistance 2:  1.1432 supply/demand level
Resistance 3:  1.1483 intraday swing high (August 10)

Support 1:   1.1365 August 13 low
Support 2:   1.1347 intraday swing high (August 15)
Support 3:   1.1300 figure 
Support 4:   1.1250 May 24, 2017 high
Support 5:   1.1178 June 27, 2017 low

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