EUR/USD Technical Analysis: Euro capped by 1.1430 strong resistance as bears get ready for a drop to 1.1350 level

Flavio Tosti Independent Analyst

EUR/USD 4-hour chart

EUR/USD is challenging the 200-period simple moving average on the 4-hour chart.
EUR/USD is also testing the important 1.1430 resistance. At this stage, it is likely that bulls will not be able to break this strong resistance level and a drop all the way back to 1.1350 can be in the making.
Technical indicators are still bullish but the Stochastic is already in the overbought zone, suggesting imminent bearish action.

Additional key levels to look at:

EUR/USD

Overview:
    Last Price: 1.1438
    Daily change: 22 pips
    Daily change: 0.193%
    Daily Open: 1.1416
Trends:
    Daily SMA20: 1.1374
    Daily SMA50: 1.1512
    Daily SMA100: 1.1563
    Daily SMA200: 1.1815
Levels:
    Daily High: 1.142
    Daily Low: 1.132
    Weekly High: 1.142
    Weekly Low: 1.1216
    Monthly High: 1.1625
    Monthly Low: 1.1302
    Daily Fibonacci 38.2%: 1.1382
    Daily Fibonacci 61.8%: 1.1358
    Daily Pivot Point S1: 1.135
    Daily Pivot Point S2: 1.1284
    Daily Pivot Point S3: 1.1249
    Daily Pivot Point R1: 1.1451
    Daily Pivot Point R2: 1.1486
    Daily Pivot Point R3: 1.1552

Author

Flavio Tosti

Independent Analyst

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