EUR/USD to sustain further losses on a break below 1.0150

EUR/USD has managed to erase a small portion of its daily losses after having tested 1.0150. But the pair is not out of the woods yet, FXStreet’s Eren Sengezer reports.

Bearish bias stays intact

“In case safe-haven flows continue to dominate the financial markets in the second half of the day, EUR/USD could have a difficult time gathering recovery momentum.”

“EUR/USD stays within a touching distance of 1.0150 support. If that level fails, interim support seems to have formed at 1.0120 ahead of 1.0100 and 1.0050.”

“On the upside, the 200-period SMA on the four-hour chart aligns as immediate resistance at 1.0180 before 1.0200 and 1.0230.”