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EUR/USD technical analysis: Euro at the edge of a deeper cliff

  • EUR/USD fell to 2-year lows as the Greenback strengthened across the board this Friday.
  • The level to beat for sellers is the 1.0961 support which can open the doors to 1.0870.
 
 

EUR/USD daily chart

 
On the daily time-frame, the common currency is trading in a bear trend below the main daily simple moving averages (DSMAs). This Friday, EUR/USD broke to its lowest level since May 2017. 

EUR/USD 4-hour chart

 
The market is under bearish pressure below its main SMAs. EUR/USD found some support at 1.0961. If this support is broken, there is little in the way to 1.0870, according to the Technical Confluences Indicator.
  
  

EUR/USD 30-minute chart

 
EUR/USD is trading below the main SMAs, suggesting a bearish momentum in the near term. Immediate resistances are seen at 1.0996, 1.1019, 1.1030 and 1.1064 levels, according to the Technical Confluences Indicator. 

Additional key levels

 

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