EUR/USD Technical Analysis: Near-term support from 1.1330 holding for now

The near-term EUR/USD chart is seeing stiff support from the 1.1335 region, where the pair bounced late last week, but the upside continues to remain limited as selling pressure keeps the Euro firmly pinned to key levels aimed towards the downside.
EUR/USD Forecast: Deja-vu dead cat bounce with Italy's stagnation exacerbates the situation
EUR/USD faces a hard-cap at 1.1390 on any recovery attempt – Confluence Detector

Joshua Gibson FXStreet

EUR/USD, M15

Moving further up the timeframes, the Fiber has seen a notable slowdown in downward momentum, rupturing a descending near-term trendline, but a lack of broad-market risk appetite is spoiling any attempts at a bullish recovery.

EUR/USD, H1

Looking to the H4 candles, the EUR/USD continues to see play in a descending channel, and while the last swing low is currently marking out a support zone, long-term short action sees the Euro setting up for another leg lower as the Greenback remains well-bid in the fx space.

EUR/USD, H4

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EUR/USD

Overview:
    Last Price: 1.1342
    Daily change: -2.0 pips
    Daily change: -0.0176%
    Daily Open: 1.1344
Trends:
    Daily SMA20: 1.1481
    Daily SMA50: 1.1581
    Daily SMA100: 1.1598
    Daily SMA200: 1.1881
Levels:
    Daily High: 1.1388
    Daily Low: 1.1338
    Weekly High: 1.1551
    Weekly Low: 1.1336
    Monthly High: 1.1816
    Monthly Low: 1.1526
    Daily Fibonacci 38.2%: 1.1358
    Daily Fibonacci 61.8%: 1.1369
    Daily Pivot Point S1: 1.1326
    Daily Pivot Point S2: 1.1307
    Daily Pivot Point S3: 1.1276
    Daily Pivot Point R1: 1.1376
    Daily Pivot Point R2: 1.1407
    Daily Pivot Point R3: 1.1426

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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