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16 Aug 2018
EUR/USD Technical Analysis: Bear trend ready to resume below 1.1400 figure
- EUR/USD main bear trend is set to resume as the market has tested the 1.1400 psychological level.
- EUR/USD made two attempts to break above 1.1400 figure but bulls were unable to sustain the bullish pullback above the figure. Short-term targets to the downside are located near 1.1336 (current daily low) and 1.1300 (2018 low).
- A sustained bull breakout above 1.1400 would negate the bearish bias.
EUR/USD 15-minute chart
Spot rate: 1.1378
Relative change: 0.29%
High: 1.1399
Low: 1.1335
Trend: Bearish
Resistance 1: 1.1400 figure
Resistance 2: 1.1432 supply/demand level
Resistance 3: 1.1483 intraday swing high (August 10)
Support 1: 1.1365 August 13 low
Support 2: 1.1347 intraday swing high (August 15)
Support 3: 1.1300 figure
Support 4: 1.1250 May 24, 2017 high
Support 5: 1.1178 June 27, 2017 low