EUR/USD: New lows are on the cards

EUR/USD Friday’s four-hour chart is decidedly bearish, pointing to losses, according to FXStreet’s analyst Yohay Elam.

Key quotes

“The EUR/USD pair is trading below the 50, 100, and 200 Simple Moving Averages, and the Relative Strength Index is above 30 – outside oversold conditions.”

“Support awaits at 1.0820, Thursday’s low, followed by 1.0750, which was a stepping stone on the way up.”

“Resistance awaits at 1.09, which provided support earlier this week, and it is followed by 1.0970, which held it down around the same time.”