EUR/USD moved lower and is currently testing the 1.3710 (S1)

EUR/USD moved lower and is currently testing the 1.3710 (S1) support bar. A clear dip below that support may pave the way towards the next one at 1.3650 (S2). Both our momentum studies broke below their support lines, while the MACD lies below both its zero and trigger lines, confirming the recent bearish momentum. As long as the rate is printing lower highs and lower lows within the channel and below both the moving averages, the short-term outlook is to the downside.

Support: 1.3710 (S1), 1.3650 (S2), 1.3600 (S3).
Resistance: 1.3810 (R1), 1.3845 (R2), 1.3880 (R3).