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EUR/USD Technical Analysis: Early Wednesday buyers should watch out for falling bears

After the EUR/USD's fantastic decline on Tuesday, the pair is seeing a mild bounceback into the 1.1385 region, though major intraday resistance rests at the 38.2% Fibo level of yesterday's contraction sits in confluence with the 1.1400 handle.
EUR/USD Forecast: Overnight slump leads to a bearish bias ahead of EU's response to Italy

Joshua Gibson FXStreet

EUR/USD Chart, 5-Minute

With the EUR/USD tracking back into previous swing highs, the pair runs the risk of descending into old bearish territory if bidders can't keep the price over the 1.1350 region.

EUR/USD Chart, 30-Minute

The 4-hour candles show the Fiber making a rough rejection play off of both the 38.2% Fibo retracement level at 1.4445 as well as the 200-period moving average resting at 1.1430.

EUR/USD Chart, 4-Hour

EUR/USD

Overview:
    Last Price: 1.1379
    Daily change: 10 pips
    Daily change: 0.0880%
    Daily Open: 1.1369
Trends:
    Daily SMA20: 1.1368
    Daily SMA50: 1.1504
    Daily SMA100: 1.1558
    Daily SMA200: 1.1806
Levels:
    Daily High: 1.1473
    Daily Low: 1.1358
    Weekly High: 1.142
    Weekly Low: 1.1216
    Monthly High: 1.1625
    Monthly Low: 1.1302
    Daily Fibonacci 38.2%: 1.1402
    Daily Fibonacci 61.8%: 1.1429
    Daily Pivot Point S1: 1.1327
    Daily Pivot Point S2: 1.1284
    Daily Pivot Point S3: 1.1211
    Daily Pivot Point R1: 1.1442
    Daily Pivot Point R2: 1.1515
    Daily Pivot Point R3: 1.1558

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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