Wed, Nov 27, 2024 @ 00:40 GMT
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HomeContributorsTechnical AnalysisEUR/USD Pair Moved into a Bearish Zone Below 1.0765

EUR/USD Pair Moved into a Bearish Zone Below 1.0765

FXOpen
By FXOpen

The Euro started a fresh decline from the 1.0800 zone against the US Dollar. The EUR/USD pair traded below the 1.0765 level to move into a bearish zone.

The pair even traded below the 1.0750 level and the 50 hourly simple moving average. The bears pushed the pair below a key bullish trend line with support at 1.0740 on the hourly chart. An immediate resistance is now near the 1.0740 level.

The first major resistance is near 1.0760 on FXOpen. A break above the 1.0760 resistance level could start another increase. In the stated case, it could rise towards the 1.0800 resistance.

Conversely, the pair might continue to move down below 1.0720. The next key support is near 1.0700, below the pair could drop towards the 1.0670 level. Any more losses might send the pair towards the 1.0645 level in the near term.

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