EUR/USD: Break below 1.08 to trigger more falls

EUR/USD Thursday's four-hour chart is pointing to the downside as bears remain in the lead, FXStreet’s analyst Yohay Elam reports.

Key quotes

“EUR/USD is trading below the 50, 100, and 200 Simple Moving Averages, and momentum remains to the downside.” 

“Significant support awaits at 1.0770, which is April's low. It is followed by 1.0720, which was a stepping stone on the way up in March.”

“Some resistance is at last week's low of 1.0810, followed by 1.0835, the daily high.”