On the hourly chart of EUR/USD at FXOpen, the pair failed to clear the 1.1070 resistance and reacted to the downside. The Euro declined below the 1.1035 support against the US Dollar.
The pair tested the 1.1000 support and is currently showing a few bearish signs. On the upside, immediate resistance is near a connecting bearish trend line at 1.1035 and the 50-hour simple moving average.
The next major resistance is near the 1.1070 level. A break above the 1.1070 resistance zone could start a decent increase. In the stated case, it could rise toward the 1.1120 resistance.
Conversely, the pair might resume its decline from the 1.1035 level. Initial support is near the 1.1000 zone. The next major support is near 1.0965. Any more losses might resend the pair toward the 1.0945 support in the near term.
