EUR/USD Technical Analysis: Euro bearish below 1.1400 figure

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a bear trend below the 200-period simple moving average (SMA).
EUR/USD is rejecting the 1.1400 figure and 50 SMA.

EUR/USD 4-hour chart

EUR/USD is trading below its main SMAs suggesting bearish momentum.

EUR/USD 30-minute chart

EUR/USD is consolidating Wednesday’s losses below the 100 and 200 SMAs.
The current momentum is bearish and the level to beat for bears is the 1.1300 figure.

Additional key levels

EUR/USD

Overview:
    Today Last Price: 1.1351
    Today Daily change: 5.0 pips
    Today Daily change %: 0.0441%
    Today Daily Open: 1.1346
Trends:
    Previous Daily SMA20: 1.1387
    Previous Daily SMA50: 1.1372
    Previous Daily SMA100: 1.148
    Previous Daily SMA200: 1.1657
Levels:
    Previous Daily High: 1.152
    Previous Daily Low: 1.1325
    Previous Weekly High: 1.1478
    Previous Weekly Low: 1.1343
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Previous Daily Fibonacci 38.2%: 1.1399
    Previous Daily Fibonacci 61.8%: 1.1445
    Previous Daily Pivot Point S1: 1.1274
    Previous Daily Pivot Point S2: 1.1202
    Previous Daily Pivot Point S3: 1.108
    Previous Daily Pivot Point R1: 1.1468
    Previous Daily Pivot Point R2: 1.1591
    Previous Daily Pivot Point R3: 1.1663

Author

Flavio Tosti

Independent Analyst

EUR/USD onsolidates around mid-1.1800s as traders keenly await FOMC Minutes

The EUR/USD pair struggles to capitalize on the previous day's goodish rebound from the 1.1800 neighborhood, or a one-and-a-half-week low, and consolidates in a narrow band during the Asian session on Wednesday. Spot prices currently trade just below mid-1.1800s, nearly unchanged for the day.

GBP/USD seems vulnerable near mid-1.3500s; UK CPI/FOMC Minutes awaited

The GBP/USD pair struggles to capitalize on the previous day's late rebound from an over one-week low – levels below the 1.3500 psychological mark – and trades with a negative bias for the third consecutive day on Wednesday. The downside, however, remains cushioned as investors seem reluctant to place aggressive directional bets ahead of the release of the latest UK consumer inflation figures and FOMC Minutes.

Gold regains positive traction after Tuesday's over 2% slump as traders await FOMC Minutes

Gold gains some positive traction during the Asian session on Wednesday and recovers a part of the previous day's heavy losses more than 2%, to the $4,843-4,842 region or a nearly two-week low. The intraday move higher could be attributed to repositioning trade ahead of the release of the FOMC Minutes.

Top Crypto Gainers: Jito drops, Morpho holds steady, Convex Finance climbs

Decentralized Finance tokens, including Jito, Morpho, and Convex Finance, rank among the top-performing crypto assets over the last 24 hours. Jito dips on Wednesday after rallying 22% the previous day on the launch of a new mainnet node.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.