EUR/USD Technical Analysis: Resistance lies in the low-1.1300s, where is located the 55-day SMA
|- The rally in EUR/USD met strong resistance in the 1.1320 region for the time being.
- The 55-day SMA at 1.1311 remains as a key hurdle for EUR-bulls ahead of the 100-day SMA at 1.1345. This area is reinforced by the critical 200-week SMA at 1.1337.
- Looking at the broader picture, the negative view stays intact as long as the +6-month resistance line, today at 1.1395, caps the upside. In this scenario, another test of 2019 lows in the 1.1180/70 band stays on the cards for the time being.
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.