EUR/USD technical analysis: Fiber at daily lows challenging 1.1173 support

08/13/2019 16:47:34 GMT|ByFlavio Tosti

USTR additional tariffs on some products will be delayed to December 15.
Risk-on is sending the greenback up and safe-haven assets down.
EUR/USD is testing the daily lows near 1.1173 support.

EUR/USD daily chart

EUR/USD is consolidating for the sixth consecutive day. The common currency is capped by the 1.1220/55 resistances as well as the 50/100-day simple moving averages (DSMAs). The US said that some tariffs are to be delayed until December 15. The news sparked a risk-on environment as US stock indices leapt higher, safe-haven gold, yen and CHF sold-off and the greenback rose.

EUR/USD 4-hour chart

EUR/USD remains in a range between the 1.1255 resistance and the 1.1160 support while the market is trading below a downward sloping 200 SMA. Bears are testing the 1.1173 support. However, EUR/USD would need a daily close below 1.1160 to confirm a bearish bias in the medium term.

EUR/USD 30-minute chart

The market is testing the 1.1173 while below its main SMAs. The range theme is intact above 1.1160. Immediate resistances are seen at 1.1200 and 1.1220, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1178
Today Daily Change	-0.0038
Today Daily Change %	-0.34
Today daily open	1.1216

Trends
Daily SMA20	1.1174
Daily SMA50	1.1239
Daily SMA100	1.1225
Daily SMA200	1.1296

Levels
Previous Daily High	1.1232
Previous Daily Low	1.1162
Previous Weekly High	1.1251
Previous Weekly Low	1.1104
Previous Monthly High	1.1373
Previous Monthly Low	1.106
Daily Fibonacci 38.2%	1.1205
Daily Fibonacci 61.8%	1.1189
Daily Pivot Point S1	1.1174
Daily Pivot Point S2	1.1134
Daily Pivot Point S3	1.1105
Daily Pivot Point R1	1.1244
Daily Pivot Point R2	1.1272
Daily Pivot Point R3	1.1314

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