EUR/USD Technical Analysis: Euro breaks below 1.1600 to new weekly lows

• EUR/USD is trading to new weekly lows as the single currency broke below the 1.1600 figure. 
• The 1.1600 level becomes now short-term resistance. 
• The next target to the downside is likely located near 1.1560, June 14 low and 1.1508, the current 2018 low.

EUR/USD 15-minute chart

Spot rate:              1.1584
Relative change:   -0.55%  
High:                     1.1672
Low:                      1.1582

Trend: Bearish

Resistance 1: 1.1600 figure
Resistance 2: 1.1634 Monday’s low
Resistance 3: 1.1685 Monday intraday swing high
Resistance 4: 1.1700 figure
Resistance 5: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move

Support 1: 1.1560 June 14 low
Support 2: 1.1508 current 2018 low
Support 3: 1.1431 weekly 100-period simple moving average