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EUR/USD Pair Is Currently Correcting Losses From The 1.1268 Low

The Euro started a fresh decline below the 1.1400 support against the US Dollar. The EUR/USD pair traded below the 1.1320 support to move into a bearish zone.

The pair even settled below the 1.1400 level and the 50 hourly simple moving average. A low is formed near 1.1268 and is currently correcting losses. It is back above 1.1320. There is also a key bullish trend line forming with support near 1.1345 on the hourly chart.

An immediate resistance near the 1.1375 level. A break above the 1.1375 and 1.1400 resistance levels could lead the pair towards the 1.1450 zone.

On the downside, an initial support is near 1.1340 on FXOpen. The key support is near 1.1320, below which there is a risk of a fresh decline. The next major support is near the 1.1280 level.

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