EUR/USD: On the verge of losing uptrend support

Thursday's four-hour chart is showing that the EUR/USD pair is on the verge of losing uptrend support, as FXStreet’s analyst Yohay Elam notes.

Key quotes

“Momentum on the four-hour chart is leaning lower and the EUR/USD pair is trading below the 50, 100, and 200 Simple Moving Averages.”

“Immediate support is at 1.0805, which is where the trend line hits the price. The next cushion is 1.0785, the weekly low, and then 1.0765, last week's trough.”

“Resistance awaits at 1.0865, which is where the 200 SMA hits the price, and then 1.0895, the weekly high.”