EUR/USD Asia Price Forecast: Euro fragile, approaching 1.0800 figure

 

 

Euro/Dollar is trading in a bear trend below the main SMAs on the daily chart. The market started the week on the backfoot failing to capitalize on the small rebound seen in the last two sessions. 

 

 

EUR/USD is trading below the main SMAs on the four-hour chart just above the 1.0800 figure as bears remain in control. As the spot is weakening, EUR/USD could continue to slide lower towards lower levels. On the flip side, resistance can be expected near 1.0852, 1.0879 and 1.0908 levels.