(function() { var didInit = false; function initMunchkin() { if(didInit === false) { didInit = true; Munchkin.init('105-GAR-921'); } } var s = document.createElement('script'); s.type = 'text/javascript'; s.defer = true; s.src = '//munchkin.marketo.net/munchkin.js'; s.onreadystatechange = function() { if (this.readyState == 'complete' || this.readyState == 'loaded') { initMunchkin(); } }; s.onload = initMunchkin; document.getElementsByTagName('head')[0].appendChild(s); })();(function(h,o,t,j,a,r){ h.hj=h.hj||function(){(h.hj.q=h.hj.q||[]).push(arguments)}; h._hjSettings={hjid:1422437,hjsv:6}; a=o.getElementsByTagName('head')[0]; r=o.createElement('script');r.defer=1; r.src=t+h._hjSettings.hjid+j+h._hjSettings.hjsv; a.appendChild(r); })(window,document,'https://static.hotjar.com/c/hotjar-','.js?sv=');

EUR/USD Stumbles Again—Is A Bigger Drop Around The Corner?

Article background

Aayush Jindal

Key Highlights

  • EUR/USD started a major decline below 1.1600 and 1.1580.
  • It traded below a contracting triangle with support at 1.1595 on the 4-hour chart.
  • GBP/USD is again moving lower from the 1.3500 resistance zone.
  • Bitcoin extended losses and tested the $60,000 support.

EUR/USD Technical Analysis

The Euro failed to surpass 1.1650 against the US Dollar. EUR/USD started a fresh decline below 1.1620 and 1.1600 to move into a bearish zone.

Looking at the 4-hour chart, the pair traded below a contracting triangle with support at 1.1595. The pair shows bearish signs below the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour).

Immediate support could be 1.1500. The first major support might be 1.1470. A close below 1.1470 could open the doors for a larger decline toward 1.1420. Any more losses might set the pace for a test of 1.1350.

On the upside, an immediate resistance could be 1.1550. The next major resistance might be 1.1580. A close above 1.1580 could open doors for gains. The main hurdle for the bulls could be 1.1620 and the 100 simple moving average (red, 4-hour). If there is a close above 1.1620, the pair could rise toward the 1.1650 level.

Looking at GBP/USD, the pair failed to continue higher above 1.3500, started a fresh decline, and might move below the 1.3320 support.

Upcoming Key Economic Events:

  • Euro Zone Sentix Investor Confidence for June 2026 - Forecast -15.5, versus -16.4 previous.
Excellent
Google Reviews
Open a Live accountOpen a Demo account
Loading