EUR/USD technical analysis: Euro drops to fresh weekly lows, breaking below the crucial 1.1160 support

EUR/USD is trading at fresh weekly lows below the 1.1160 key level.
The market has room to potentially fall towards the 1.1130 and 1.1106 levels.

Flavio Tosti Independent Analyst

EUR/USD daily chart

On the daily time-frame, the single currency is capped by the 1.1220/55 resistances and the 50/100-day simple moving averages (DSMAs).

EUR/USD 4-hour chart

EUR/USD is attempting to break below the 1.1160 support and the 100 SMA. If the bears succeed, they can drive the market down to the 1.1130 and 1.1106 supports. Immediate resistances are seen at 1.1160,1.1200 and 1.1220, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1158
Today Daily Change	-0.0014
Today Daily Change %	-0.13
Today daily open	1.1172

Trends
Daily SMA20	1.1172
Daily SMA50	1.1238
Daily SMA100	1.1224
Daily SMA200	1.1295

Levels
Previous Daily High	1.1229
Previous Daily Low	1.117
Previous Weekly High	1.1251
Previous Weekly Low	1.1104
Previous Monthly High	1.1373
Previous Monthly Low	1.106
Daily Fibonacci 38.2%	1.1193
Daily Fibonacci 61.8%	1.1207
Daily Pivot Point S1	1.1151
Daily Pivot Point S2	1.1131
Daily Pivot Point S3	1.1092
Daily Pivot Point R1	1.1211
Daily Pivot Point R2	1.125
Daily Pivot Point R3	1.127

Author

Flavio Tosti

Independent Analyst

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