Retreat from key resistance continues below 1.1650

  • Bearish pressure rises as pair breaks below 1.1650, extending daily losses. 
  • Next support is seen around 1.1630 and below at 1.1600. 
  • Double top formation near 1.1750, with the neckline at 1.1670 shows target near 1.1590. 
  • Downtrend line at 1.1740/50 is the key dynamic resistance: a break higher should clear the way to more gains. 

EUR/USD 15 minutes chart

EUR/USD 4 Hour chart

EUR/USD 4H

Spot rate:              1.1642
High:                     1.1743
Low:                      1.1642

Trend:                  Bearish

Resistance 1:        1.1650
Resistance 2:        1.1675
Resistance 3:        1.1705

Support 1:             1.1630
Support 2:             1.1600
Support 3:             1.1575

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