EUR/USD Technical Analysis: Further decline likely. Door open for a test of 1.1526

• EUR/USD is prolonging the leg lower following the FOMC meeting and amidst jitters on Italian politics, intensifying at the same time the rejection from the 1.1800 neighbourhood.
• The pair has broken below the short-term support line on Thursday, opening the door for a continuation of the retracement to, initially, September’s low at 1.1526.
• Further decline should allow a new visit to YTD lows just below 1.1300 the figure.

EUR/USD daily chart

Daily high: 1.1652

Daily low: 1.1614

Support Levels

S1: 1.1600

S2: 1.1560

S3: 1.1481

Resistance Levels

R1: 1.1720

R2: 1.1799

R3: 1.1839