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EUR/USD - Challenging the Key Support at 1.0900

By - Nov 04, 2015, 5:41 AM CST

EUR/USD continues to decline, as can be seen by the break of the support at 1.0936 (03/11/2015 low) and 1.1006 (uptrend rising channel). Prices are now challenging the key support at 1.0900. Hourly resistance for a short term bounce is given at 1.1095 (28/10/2015 reaction high). Stronger resistance can be found at 1.1387 (20/10/2015 low).

Since March 2015, the pair is improving. Key supports can be found at 1.0458 (16/03/2015 low) and 1.0000 (psychological support). The technical structure favours an eventual break higher. Strong resistance is given at 1.1871(12/01/2015).

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