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Forex News

Euro fragile, approaching 1.0800 figure

  • EUR/USD is starting the week on the back foot on broad-based USD strength.
  • EUR/USD is expected to slide lower as the spot remains weak. 

 

EUR/USD daily chart 

 

Euro/Dollar is trading in a bear trend below the main SMAs on the daily chart. The market started the week on the backfoot failing to capitalize on the small rebound seen in the last two sessions. 

 

EUR/USD four-hour chart

 

EUR/USD is trading below the main SMAs on the four-hour chart just above the 1.0800 figure as bears remain in control. As the spot is weakening, EUR/USD could continue to slide lower towards lower levels. On the flip side, resistance can be expected near 1.0852, 1.0879 and 1.0908 levels. 

 

 

 

Resistance: 1.0852, 1.0879, 1.0908

Support: 1.0818/1.0800, 1.0780

 

 

Additional key levels

 

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