EUR/USD technical analysis: Euro losing some steam below 1.1418 resistance

The bear trend is in peril as the market is trading above its main SMAs.
In the near term, EUR/USD is seen correcting down while below 1.1418 resistance.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is popping above its main daily simple moving averages (DSMAs) suggesting that the bear trend might be coming to an end.

EUR/USD 4-hour chart

The market is under bullish pressure above its main SMAs suggesting a positive bias in the medium term. The market is testing a strong support according to the Technical Confluences Indicator. If broken to the downside, the next support can be seen at 1.1340 and 1.1310.

EUR/USD 30-minute chart

EUR/USD is trading below the 1.1400 mark and its 50 SMA. According to the Technical Confluences Indicator, resistances are at the 1.1400 figure and the 1.1418 levels.

Additional key levels

EUR/USD

Overview
Today last price	1.1392
Today Daily Change	-0.0006
Today Daily Change %	-0.05
Today daily open	1.1398

Trends
Daily SMA20	1.1251
Daily SMA50	1.1221
Daily SMA100	1.1261
Daily SMA200	1.1351

Levels
Previous Daily High	1.1404
Previous Daily Low	1.1367
Previous Weekly High	1.1378
Previous Weekly Low	1.1181
Previous Monthly High	1.1266
Previous Monthly Low	1.1107
Daily Fibonacci 38.2%	1.139
Daily Fibonacci 61.8%	1.1381
Daily Pivot Point S1	1.1376
Daily Pivot Point S2	1.1353
Daily Pivot Point S3	1.1339
Daily Pivot Point R1	1.1413
Daily Pivot Point R2	1.1427
Daily Pivot Point R3	1.145

Author

Flavio Tosti

Independent Analyst

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