EUR/USD Technical Analysis: Still looks negative below 1.1391, 6-month resistance line
|- EUR/USD has so far managed to reverse yesterday’s drop to fresh weekly lows in the 1.1280 region.
- Spot has regained 1.1300 the figure today and markets’ attention has once again shifted to the critical 200-week SMA near 1.1340 ahead of the 100-day SMA, today at 1.1345.
- Looking at the broader picture, the offered bias remains unchaged as long as the +6-month resistance line, today at 1.1391, 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.
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