On the hourly chart of EUR/USD at FXOpen, the pair started a fresh decline from the 1.1150 zone. The Euro declined below the 1.1060 and 1.1020 support levels against the US Dollar.
The pair settled below the 50-hour simple moving average and tested 1.0965. It is now consolidating losses and showing bearish signs. Immediate resistance is near 1.0990. A clear move above 1.0990 might send the pair toward 1.1020.
The next major resistance is near the 50-hour simple moving average at 1.1060. Any more gains might send the pair toward 1.1150.
Conversely, the pair might continue to move down below 1.0965. The next major support is near 1.0950, below which EUR/USD could test 1.0920. Any more losses could send the pair toward 1.0880.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
