EUR/USD strongly bearish despite upside attempts

The EUR/USD pair slipped towards lower levels in the US session, unable to inch higher beyond the 1.0850 levels on broader weakness, to trade around 1.0815 levels. The pair rebounded towards 1.0844 in earlier European session after comments from ECB president Mario Draghi, but sellers stepped back and pushed the pair back to the 1.0800 price zone. 

• The ongoing weakness for the pair is set to continue, as the pair remains well below its daily pivot point located at 1.0856.
   
• Technically in the 4 hour chart the 55, 30 and 20 MA depicts a clear bearish slope, the RSI is indicating towards downside at 41.
   
• To the upside, the strong resistance can be seen at 1.0873, a break above this level would expose the pair to next resistance level at 1.0922 levels.
   
• To the downside strong support can be seen at 1.0800, a break below at this level will open the door towards next level at 1.0764.
  
  Recommendation: Go short around 1.0850, targets around 1.0780/1.0740, SL 1.0930
  
  Support levels: 1.0800, 1.0764, 1.0700
  
  Resistance levels: 1.0873, 1.0922, 1.0977