EUR/USD New York Price Forecast: Euro consolidates losses below 2019 low

 

 

 

EUR/USD is trading in a weak downtrend below the main daily simple moving averages (SMAs) as the spot remains under pressure near 34-month lows. The quote is trading just below the 2019 lows. 

 

 

EUR/USD broke below the downward channel while trading below its main SMAs on the four-hour chart. The spot is consolidating sideways while remaining under bearish pressure near 34-month lows. Sellers want a breakdown below the 1.0826 support level to drag the price down to the 1.0800 figure and 1.0756 price levels. Resistances are seen near the 1.0882, 1.0930 and 1.0984 levels, according to the Technical Confluences Indicator.