EUR/USD Technical Analysis: EUR/USD bears print a new 2018 low

EUR/USD almost reached the 1.1300 earlier in Europe as EUR/USD hits a new 2018 low yet again.
EUR/USD bears objective is to breakout below 1.13000 in order to target 1.1250 May 24, 2017 high and 1.1178 June 27, 2017 low.
On the flip side bulls will try to break above 1.1347, intraday swing high in order to target 1.1365 August 13 low and 1.1432 supply/demand level. Bears keep the advantage as long as they keep the market below the 1.1347-1.1365 area and the 200-period simple moving average on the 15-minute chart.

Flavio Tosti Independent Analyst

EUR/USD 15-minute chart

EUR/USD daily chart

Spot rate: 1.1329
Relative change: -0.14%
High: 1.1351
Low: 1.1308

Trend: Bearish

Resistance 1: 1.1347 intraday swing high (August 15)
Resistance 2: 1.1365 August 13 low
Resistance 3: 1.1432 supply/demand level
Resistance 4: 1.1483 intraday swing high (August 10)
Resistance 5: 1.1508 June 8 low
Resistance 6: 1.1527 June 28 low
Resistance 7: 1.1571-1.1581 area, August 6 high and August 2 low
Resistance 8: 1.1600-1.1620 area, figure and July 27 low
Resistance 9: 1.1640-1.1649 area, key level and July 12 low
Resistance 10: 1.1672 June 27 high

Support 1: 1.1300 figure
Support 2: 1.1250 May 24, 2017 high
Support 3: 1.1178 June 27, 2017 low

Author

Flavio Tosti

Independent Analyst

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