EUR/USD Price Analysis: Euro keeps melting down, nearing 1.0900 figure

 

 

EUR/USD is trading in a weak bear trend below its main simple moving averages (SMAs) as the spot is sinking to levels not seen since October 2019.

 

 

EUR/USD broke below the bear channel while under its main SMAs. Sellers are looking for a break below the 1.0914 support and target the 1.0880 and 1.0846 levels on the way down, according to the Technical Confluences Indicator. Resistances are seen near 1.0948, 1.0980, 1.1000 figure.