EUR/USD could suffer additional losses in case 1.0150 is confirmed as resistance

EUR/USD has failed to reclaim 1.0200 following the latest recovery attempt. The pair could test 1.0100 with key resistances staying intact, FXStreet’s Eren Sengezer reports.

Additional losses are likely in the near term

“EUR/USD faces strong resistance in the 1.0200/1.020 area, where the 100-period and the 200-period SMAs on the four-hour chart are located. Unless buyers reclaim that level, the bearish bias should stay intact.”

“On the downside, 1.0150 aligns as first support. If this level is confirmed as resistance, additional losses toward 1.0100 and 1.0050 could be witnessed.”

“Above 1.0200, resistance are located at 1.0230 and 1.0300.”