EUR/USD: Piercing a relevant support level at 1.0950

The EUR/USD pair is trading at fresh weekly lows, bearish according to intraday charts, as FXStreet’s Valeria Bednarik notes.

Key quotes

“The 4-hour chart shows that a flat 200 SMA provides intraday resistance at around 1.1020, while the 20 SMA maintains its bearish slope below the 100 SMA, both above the larger one.

“The pair has broken below a relevant low at 1.0950 with room now to retest the year low at 1.0777.”

“Support levels: 1.0920 1.0880 Resistance levels: 1.0950 1.0985”