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HomeContributorsTechnical AnalysisEUR/USD pair moved into a bearish zone below $1.0200

EUR/USD pair moved into a bearish zone below $1.0200

FXOpen
By FXOpen

The Euro started a fresh decline below the 1.0300 support zone against the US Dollar. The EUR/USD pair even traded below the 1.0200 level to move into a bearish zone.

A low is formed near 1.0144 and the pair is now consolidating losses. It recently tested a connecting bearish trend line with resistance near 1.0180 on the hourly chart but failed to continue higher. It is also struggling below the 50 hourly simple moving average.

On the upside, the next major resistance is near 1.0200 on FXOpen. A break above the 1.0200 and 1.0220 resistance levels could start a decent recovery wave. In the stated case, it could even surpass 1.0250.

An immediate support is near the 1.0150 level. The next key support is near 1.0120, below the pair could decline towards the 1.0100 level in the near term. Any more losses might send the pair towards the 1.0050 level.

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