EURUSD is bearish and back in a downtrend after breaking below its short-term uptrend line and fell below the 50-period moving average on the 4H time frame. Price action is currently along the lower Bollinger Band at around 1.3514. . RSI is falling towards 30 which is bearish territory.
Next support level is at 1.3460 which is the Sept. 25 low. A break below this support will confirm the bearish bias and open the way to next target at 1.3325, Sept 17 low.
A bounce off S1 at 1.3460 could see a retest of resistance at R1, at 1.3645, which is the October 3 high.
EURUSD is bearish and back in a downtrend after breaking below its short-term uptrend line and fell below the 50-period moving average on the 4H time frame. Price action is currently along the lower Bollinger Band at around 1.3514. . RSI is falling towards 30 which is bearish territory.
Next support level is at 1.3460 which is the Sept. 25 low. A break below this support will confirm the bearish bias and open the way to next target at 1.3325, Sept 17 low.
A bounce off S1 at 1.3460 could see a retest of resistance at R1, at 1.3645, which is the October 3 high.
EURUSD 4H Chart
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