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EUR/USD slides to session low as sellers look to regain near-term control

January 15, 2019 by admin 0 Comments

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Price breaks below the trendline support and the 200-hour moving average

But the move lower in EUR/USD comes as the pair also breaks key support levels with the near-term trendline support and the 200-hour MA (blue line) giving way. The break in the latter now suggests that the near-term bias is turning more bearish once again.

Further support now is seen around the 1.1400-10 level. With the inability for EUR/USD to hold a break above the 1.1500 handle, it seems like we’re resuming the 1.1300 to 1.1500 trading range once again.

There’s a theme of broader dollar strength running across the board as well with the greenback paring earlier declines against commodity currencies too. That’s part and parcel to the movement in EUR/USD here.

This article was originally published by Forexlive.com. Read the original article here.