EUR/USD Technical Analysis: A move lower is in the offing in the short term

EUR/USD is reversing Monday’s gains while keeps navigating the multi-session consolidative theme around the 1.1200 handle.
Immediately to the upside emerges the 55-day SMA at 1.1232 ahead of so far monthly peaks at 1.1249 (August 6).
The inability of the pair to regain this area of resistance in the near term (the sooner the better) should encourage sellers to return to the market on a more convincing fashion and spark a move lower to, initially, the 1.1100 neighbourhood.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1189
Today Daily Change	38
Today Daily Change %	-0.24
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

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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