EUR/USD Technical Analysis: Further decline could test 1.1526 ahead of 1.1508

• The pair remains under pressure at the beginning of the week although it managed to rebound from daily lows in the 1.1590/85 band.
• A drop below Friday’s low at 1.1567 should open the door for a potential test of September’s low at 1.1526.
• Further downside should meet support at 1.1508 initially.
• A reversion of the current downside bias should regain the short-term support line, today at 1.1706, to allow for a resumption of the up trend.

EUR/USD daily chart

Daily high: 1.1619

Daily low: 1.1573

Support Levels

S1: 1.1565

S2: 1.1527

S3: 1.1483

Resistance Levels

R1: 1.1648

R2: 1.1691

R3: 1.1730