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.

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

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD supported at 1.1200 ahead of Eurozone data

EUR/USD managed to retain the 1.12 handle amid broad-based US dollar bullish consolidation, as markets seem to have scaled back expectations of Fed rate cuts. Focus on Eurozone final CPI data.

EUR/USD News

GBP/USD attempts a bounce again above 1.2400, UK CPI eyed

The latest leg down in the GBP/USD pair found buyers near 1.2380 region, with the rates now attempting another recovery above the 1.24 handle heading into the key UK CPI data release. 

GBP/USD News

USD/JPY consolidates in a range, comfortably above 108.00 handle

Reviving safe-haven demand underpins JPY and exerts some pressure. Renewed weakness in the US bond yields further weighed on the USD. The downside remains limited amid tempered Fed rate cut expectations.

USD/JPY News

Gold clings to 21-DMA amid less active markets

Gold carries the 3-week old lower high formation forward as it clings to 21-day moving average (DMA) during Wednesday’s less active market hours ahead of the European session. Lack of major data/news during the Asian session limits market moves.

Gold News

Forex Today: US dollar corrects, US-Japan eye a trade deal, and Bitcoin bounces

US dollar reverses a part of Tuesday’s US retail sales data-led rally. US-Japan are working towards a trade deal by September. Bitcoin recovers, but remains below the 10k mark.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •