EUR/USD Technical Analysis: Bearish bias intact, a test of 1.1520/30 on the cards

• The EUR/USD pair failed to hold on top of 1.1600 today, after being rejected from above 1.1700 last week and is about to post the fourth consecutive decline. 
• The bearish momentum remains strong and the euro is likely to extend losses while under 1.1605 (downtrend line). 
• On a wider perspective, EUR/USD is back into the previous trading range and a test of the lower bottom at 1.1520/30 is on the cards. A break lower could clear the way to more losses. 

EUR/USD 15-minute chart

Daily high: 1.1625
Daily low: 1.1563

Support Levels

S1: 1.1550
S2: 1.1520
S3: 1.1500

Resistance Levels

R1: 1.1585
R2: 1.1605
R3: 1.1630