EUR/USD technical analysis: Euro dipping below 1.1200 on US data

EUR/USD is on the back foot moving below 1.1200 figure.
The US Housing Starts for April (MoM) came in better-than-expected at 1.1235M vs. 1.20M forecast while Building Permits for the same month came at 1.296M vs. 1.29M also beating expectations. Thus giving the USD a slight boost and sending EUR/USD down.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main simple moving averages (SMAs).

EUR/USD 4-hour chart

EUR/USD is once again trading in the notorious 1.1180-1.1200 range below its 200 SMA.

EUR/USD 30-minute chart

The market is trading below its main SMAs suggesting a bearish bias in the short term. If bears can break below 1.1200 support the next destination is likely seen at 1.1180 price level followed then by 1.1140 level. Resistance is seen at 1.1220 and 1.1245 levels.

Additional key levels

EUR/USD

Overview
Today last price	1.1193
Today Daily Change	-0.0011
Today Daily Change %	-0.10
Today daily open	1.1204

Trends
Daily SMA20	1.1201
Daily SMA50	1.1246
Daily SMA100	1.1316
Daily SMA200	1.1398

Levels
Previous Daily High	1.1226
Previous Daily Low	1.1178
Previous Weekly High	1.1254
Previous Weekly Low	1.1166
Previous Monthly High	1.1326
Previous Monthly Low	1.1111
Daily Fibonacci 38.2%	1.1196
Daily Fibonacci 61.8%	1.1207
Daily Pivot Point S1	1.1179
Daily Pivot Point S2	1.1155
Daily Pivot Point S3	1.1132
Daily Pivot Point R1	1.1227
Daily Pivot Point R2	1.125
Daily Pivot Point R3	1.1274

Author

Flavio Tosti

Independent Analyst

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