EUR/USD Technical Analysis: Outlook on spot remains bearish while below 1.1474, short-term resistance line

EUR/USD extends the consolidation in the upper end of the recent range, although a convincing breakout of the pattern still remains elusive.
The initial resistance band is located in the 1.1382/92 band, where aligns the 55- and 100-day SMAs. A surpass of this area should help the pair to alleviate some downside pressure.
A drop to fresh 2019 lows in the 1.1230 region remains on the cards as long as the short-term resistance line, today at 1.1474, caps the upside.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview:
    Today Last Price: 1.1342
    Today Daily change: 20 pips
    Today Daily change %: 0.03%
    Today Daily Open: 1.1339
Trends:
    Daily SMA20: 1.1367
    Daily SMA50: 1.1391
    Daily SMA100: 1.1397
    Daily SMA200: 1.1519
Levels:
    Previous Daily High: 1.1368
    Previous Daily Low: 1.1318
    Previous Weekly High: 1.1344
    Previous Weekly Low: 1.1234
    Previous Monthly High: 1.1586
    Previous Monthly Low: 1.1289
    Daily Fibonacci 38.2%: 1.1337
    Daily Fibonacci 61.8%: 1.1349
    Daily Pivot Point S1: 1.1315
    Daily Pivot Point S2: 1.1292
    Daily Pivot Point S3: 1.1266
    Daily Pivot Point R1: 1.1365
    Daily Pivot Point R2: 1.1391
    Daily Pivot Point R3: 1.1414

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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