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EURUSD : Showing a Bearish Move

(EURUSD : 4 Hour Chart)

EURUSD is declining breaking below the key support level at 1.3586 and below the 100 day and 50 day SMAs thus giving a bearish signal. This decline in EUR might have come due to the upbeat US data which came out in line with the expectations. Earlier the pair was consolidating within a symmetrical triangle. The pair surged from the resistance trend line but found resistance at 1.3648 and again declined to the triangle consolidation. Today the pair declined from the support trend line of the triangle giving a bearish signal however it should find support at 1.3572. It might also find support from 100 day SMA as it found previously so the pair might also rise from 1.3586.

Key Support levels to watch : 1.3586 and 1.3572