Technical Analysis: EURUSD

EURUSD fell to a one-week low

On Tuesday, EURUSD fell for the third straight trading day. It broke below the 1.60 mark to a one-week low.

The USDX rose to a one-week high

On Tuesday, boosted by the optimism over trade agreement, the USDX climbed to a one-week high. It ended up 0.36% at 98.95.

Eurozone current account declined in August

Eurozone current account (August) decreased from 27.7 billion Euro to 11.903 billion Euro, according to the data from the Eurostat.

The bearish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, EURUSD continued falling. The bearish market trend prevailed in the short term. In terms of technical indicators, KDJ went downwards after death cross occurred, showing that EURUSD will fall further. Investors should focus on whether EURUSD will break through the support at 1.154. It will dip with potential support at 1.146 if it breaks below 1.154.

4-hour chart

On the 4-hour chart, EURUSD was prone to fluctuation and declined. The bearish market trend prevailed. In terms of technical indicators, MACD went downwards after death cross occurred, showing that the market trend is bearish. Investors should focus on whether EURUSD will break through the resistance at 1.164. It will fall if it rebounds but is capped at 1.164.

Key resistance: 1.164,1.168

Key support: 1.154,1.146

Generally speaking, the bearish market trend prevailed in the short term. Investors should focus on the speech delivered by the ECB Governor Lagarde.