EUR/USD technical analysis: Euro hovering near weekly lows, sub-1.1160 level

EUR/USD is trading at weekly lows below the critical 1.1160 level.
The level to beat for bears is the 1.1136 support.

Flavio Tosti Independent Analyst

EUR/USD daily chart

On the daily time-frame, the single currency is trading in a bear trend below its main daily simple moving averages (DSMAs).

EUR/USD 4-hour chart

After six days of consolidation, EUR/USD finally broke below the 1.1160 support and the 100 SMA. The market reached the 1.1136 support, which becomes the level to beat for bears. The next supports on the way down are seen at the 1.1107, 1.1084 and 1.1061 levels.

EUR/USD 30-minute chart

The market is under bearish pressure below its main SMAs. Immediate resistances are seen at the 1.1160 and 1.1200 levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1144
Today Daily Change	-0.0028
Today Daily Change %	-0.25
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

EUR/USD remains on the back foot near 1.1750

EUR/USD is coming under renewed pressure, sliding towards multi-week lows in the mid-1.1700s on Thursday. The move lower reflects another strong session for the US Dollar, with the Greenback drawing fresh support from a batch of firm US data that reinforced its underlying bid.

GBP/USD drops further, hovers around 1.3460

GBP/USD is sliding in tandem with its risk-sensitive peers, drifting back towards the 1.3440 area, its lowest levels in around four weeks. The move reflects a firmer Greenback, supported by another round of solid US data, while a somewhat divided FOMC Minutes has added an extra layer of uncertainty around the Fed’s rate path, keeping Cable on the defensive.

Gold unable to attract investors ahead of key US data

Gold is trading with humble gains on Thursday, hovering around the key $5,000 mark per troy ounce. The yellow metal remains underpinned by renewed geopolitical tensions in the Middle East, even as a stronger US Dollar and rising US Treasury yields across the curve limit the upside and keep price action relatively contained.

Ripple slips toward $1.40 despite SG-FORGE tapping protocol for EUR CoinVertible

XRP extends its decline, nearing $1.40 support, as risk appetite fades in the broader market. SG-FORGE’s EUR CoinVertible launches on the XRP Ledger, leveraging the blockchain’s scalability, speed, security, and decentralization.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.