EUR/USD: Beards are in control but less than beforehand

EUR/USD Friday's four-hour chart is showing the bears remain in control, as FXStreet’s analyst Yohay Elam notes.

Key quotes

“EUR/USD is trading below the 50, 100, and 200 Simple Moving Averages on the four-hour chart. On the other hand, downside momentum has weakened.” 

“Support awaits at 1.0810, which provided support several times in April. It is followed by Thursday's low at 1.0765.” 

“Resistance is at the recent high of 1.0855, which is also where the 100 SMA hits the price. A stronger cap is 1.0890, which held the pair down in late April and converges with the 200 SMA.”