EUR/USD slides further as the Dollar gains steadily

EUR/USD extended its decline below the 1.0600 support.
A key bearish trend line is forming with resistance near 1.0580 on the 4-hours chart.
GBP/USD could dive if it breaks the 1.1920 support.
Gold price is at risk of a move below the $1,800 support.

The Euro started another decline after it failed to recover above 1.0800 against the US Dollar. EUR/USD extended its decline below the 1.0700 support zone.

The pair settled below the 1.0650 support level, the 100 simple moving average and the 200 simple moving average.
The decline gained pace below the 1.0620 and 1.0600 support levels. A low is formed near 1.0536 and the pair is now consolidating losses. On the upside, and immediate resistance is near the 1.0575 level.

There is also a key bearish trend line forming with resistance near 1.0580. The next major resistance is near the 1.0620 level. A clear move above the 1.0620 resistance might start a steady increase. The next target could be near 1.0700 level and the 100 simple moving average, where the bears might appear. Any more gains could open the doors for a move towards the 1.0800 level.

On the downside, an immediate support in near the 1.0540 level. The next major support is near the 1.0500 level, below which there is a risk of a move towards the 1.0450. Any more losses could open the doors for a drop towards 1.0380.