- EUR/USD rebound is losing steam as the market is retracing down from the 1.0900 figure.
- The level to beat for bears is the 1.0840 support.
EUR/USD daily chart
EUR/USD is rebounding from the 1.0800 figure while trading below its main SMA (simple moving average) on the daily chart.
EUR/USD four-hour chart
EUR/USD is consolidating the last bear leg started in late March as the spot is trading below the main SMAs suggesting a negative bias in the medium term. Bears are looking for a break below the 1.0840 level while resistnce can be seen near 1.0916 and 1.0965 levels according to the Technical Confluences indicator.
Resistance: 1.0916, 1.0965, 1.1000
Support: 1.0840, 1.0780, 1.0735
Additional key levels