EUR/USD Technical Analysis: Declining resistance keeping the Fiber under bearish wraps

The EUR/USD is continuing to cycle near 1.3800 as the last twenty-four hours sees the Fiber straining to choose a direction as broader markets continue to struggle with the Italy-EU budget standoff.
EUR/USD: Italy's GDP could spark the next significant move

Joshua Gibson FXStreet

EUR/USD, M5

The past week has seen the Fiber move haltingly lower, but so far last Friday's low at 1.1335 is holding as the current support for the pair.

EUR/USD, M30

The past month sees the Fiber in more bearish straits, falling steadily from a four-week peak of 1.1621, and the 50-period moving average is holding as declining resistance for the EUR/USD.

EUR/USD, H4

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EUR/USD

Overview:
    Last Price: 1.1379
    Daily change: -1.5e+2 pips
    Daily change: -1.32%
    Daily Open: 1.1531
Trends:
    Daily SMA20: 1.1571
    Daily SMA50: 1.1584
    Daily SMA100: 1.1623
    Daily SMA200: 1.1909
Levels:
    Daily High: 1.154
    Daily Low: 1.1531
    Weekly High: 1.1551
    Weekly Low: 1.1336
    Monthly High: 1.1816
    Monthly Low: 1.1526
    Daily Fibonacci 38.2%: 1.1496
    Daily Fibonacci 61.8%: 1.1472
    Daily Pivot Point S1: 1.1453
    Daily Pivot Point S2: 1.1392
    Daily Pivot Point S3: 1.1351
    Daily Pivot Point R1: 1.1555
    Daily Pivot Point R2: 1.1596
    Daily Pivot Point R3: 1.1657

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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