EUR/USD Technical Analysis: Euro corrects towards 1.1160 despite better-than-expected US GDP

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main simple moving average (SMAs).
The US Gross Domestic Product Annualized (GDP) for the first quarter came in at 3.2% vs. 2.1% forecast.
After an initial reaction down, EUR/USD is now correcting to the upside.

EUR/USD 4-hour chart

EUR/USD is trading below its main SMAs suggesting a bearish bias in the medium-term.

EUR/USD 30-minute chart

EUR/USD is trading above its 50 and 100 SMAs suggesting a correction up
Resistances to the upside are seen at 1.1160 and 1.1200 level.
Support is at 1.1200 and 1.1080 level.

Additional key levels

EUR/USD

Overview
Today last price	1.1153
Today Daily Change	0.0019
Today Daily Change %	0.17
Today daily open	1.1134

Trends
Daily SMA20	1.124
Daily SMA50	1.1286
Daily SMA100	1.1341
Daily SMA200	1.1429

Levels
Previous Daily High	1.1164
Previous Daily Low	1.1118
Previous Weekly High	1.1324
Previous Weekly Low	1.1224
Previous Monthly High	1.1448
Previous Monthly Low	1.1176
Daily Fibonacci 38.2%	1.1135
Daily Fibonacci 61.8%	1.1146
Daily Pivot Point S1	1.1113
Daily Pivot Point S2	1.1093
Daily Pivot Point S3	1.1067
Daily Pivot Point R1	1.1159
Daily Pivot Point R2	1.1184
Daily Pivot Point R3	1.1204

Author

Flavio Tosti

Independent Analyst

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