EUR/USD Technical Analysis: Bearishness picks up pace and could expose 1.1449

• EUR/USD dropped further late on Wednesday, breaking below the critical 1.1500 neighbourhood and printing fresh lows near 1.1460.
• Further downside should pave the way for a test of the mid-1.1400s, where emerges a Fibo retracement of the 2017-2018 up move.
• A breach of this level would leave the 200-week SMA exposed, at 1.1331. This is regarded as the last defence of the 2018 low at 1.1299 (August 15).

EUR/USD daily chart

Daily high: 1.1500

Daily low: 1.1463

Support Levels

S1: 1.1430

S2: 1.1382

S3: 1.1300

Resistance Levels

R1: 1.1559

R2: 1.1641

R3: 1.1689