On the hourly chart of EUR/USD at FXOpen, the pair started a fresh decline from the 1.0970 zone. The Euro declined below the 1.0930 support against the US Dollar.
There was a break below the 50-hour simple moving average at 1.0900. It is now showing a few bearish signs below the 1.0890 resistance level. The next major resistance is near 1.0900. The main resistance is now forming near a connecting bearish trend line at 1.0930.
A break above 1.0930 could send EUR/USD toward 1.0970. Any more gains might send the pair toward the 1.1010 resistance.
Conversely, the pair might continue to move down toward 1.0845. The next major support is near 1.0820, below which EUR/USD could test the 1.0800 support. Any more losses could send the pair to 1.0765.
