EUR/USD Technical Analysis: Next down barrier emerges at 1.1508

• The selling pressure around the pair is now picking up pace, extending the rejection from last week’s tops in the 1.1730 region.
• Deeper pullbacks should meet interim contention at the 21-day SMA at 1.1544 ahead of the more relevant 1.1508.
• On the upside, a sustainable surpass of the 1.1745/50 band is needed to allow for a test of 1.1790 ahead of the critical 1.1853 level.

EUR/USD daily chart

Daily high: 1.1625

Daily low: 1.1574

Support Levels

S1: 1.1597

S2: 1.1573

S3: 1.1557

Resistance Levels

R1: 1.1636

R2: 1.1652

R3: 1.1676