20.04 - EUR/USD: resistance at 1.0895
- by George Solotarov
EUR/USD has been trending lower since hitting a peak at 1.0995 last week while Monday's four-hour chart is pointing to further losses. EUR/USD fell below uptrend support and the 50 and 200 Simple Moving Averages on the four-hour chart. Downside momentum is picking up. All in all, bears are in the lead.
Support awaits at 1.0810, which was last week's low, and 1.0770, April's trough follows it. Robust resistance is at 1.0895, a high point on Friday, and also a support line last week. Further up, 1.0930 was a swing high in early April.