EUR/USD: Break below 1.0770 exposing the yearly low at 1.0635

The EUR/USD pair has been unable to surpass the 61.8% retracement of its latest daily advance at around 1.0830, meeting sellers around it, FXStreet’s Chief Analyst Valeria Bednarik reports.

Key quotes

“The EUR/USD pair is bearish, according to the 4-hour chart, as moving averages accelerate south above the current level, while technical indicators gain bearish traction within negative levels.” 

“The immediate support is the 1.0770 area, where the pair bottomed last Friday, with a break below the level exposing the yearly low at 1.0635.”

“Support levels: 1.0770 1.0725  Resistance levels: 1.0830 1.0860”