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.

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
Author

Flavio Tosti
Independent Analyst


















