EUR/USD technical analysis: Fiber ending the day on its low near 1.1180 - USD strength is the main driver
|EUR/USD daily chart
EUR/USD is trading in a bear trend below its main simple moving averages (SMAs). Better-than-expected US housing data and corporate earnings along with higher US bond yields are helping USD to gain some traction and sending EUR/USD down to 1.1180.
EUR/USD remains stuck in the infamous 1.1180-1.1200 range of the last weeks and below its 200 SMA.
EUR/USD 30-minute chart
The market is trading below its main SMAs suggesting a bearish bias in the short term. Bears are challenging the 1.1180 support. A sustained break below the level can see a move to 1.1140 and 1.1110 to the downside. Resistance is seen at 1.1220 and 1.1245 levels.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.