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5 May 2020
EUR/USD Asia Price Forecast: Euro trades in three-day lows, sub-1.0900 level
- EUR/USD is down for a second consecutive day.
- EUR/USD is challenging an important support at the 1.0837 level.
EUR/USD daily chart
Euro/Dollar is trading in a bear trend below the main SMAs on the daily chart. However, EUR/USD is trading within familiar ranges seen in April.
EUR/USD four-hour chart
EUR/USD broke to the downside below the main SMAs on the four-hour chart and reached an important support near 1.0837 level. The market will need to break this level to the downside to continue the bearish traction initiated at the start of the week. The resistances to watch can be located near 1.0882 and 1.0920 levels.
Resistance: 1.0882, 1.0920, 1.0973
Support: 1.0837, 1.0804, 1.0775
Additional key levels