EUR/USD Technical Analysis: The pair faces formidable support in the 1.1260/70 band

The pair remains under pressure below 1.1300 the figure so far this week, although the idea of a deeper down move, let’s say below 2018 lows at 1.1215, appears to be losing some traction as of late.
That said, an attempt of some consolidation is on the cards in the near term as EUR/USD keeps looking for a more relevant catalyst.
While the area of support in the 1.1270/50 band holds, spot keeps the chances of a rebound to 1.1400 and above alive.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview:
    Today Last Price: 1.1276
    Today Daily change: 28 pips
    Today Daily change %: -0.16%
    Today Daily Open: 1.1294
Trends:
    Daily SMA20: 1.1374
    Daily SMA50: 1.1395
    Daily SMA100: 1.1408
    Daily SMA200: 1.1532
Levels:
    Previous Daily High: 1.1311
    Previous Daily Low: 1.1249
    Previous Weekly High: 1.1462
    Previous Weekly Low: 1.132
    Previous Monthly High: 1.1586
    Previous Monthly Low: 1.1289
    Daily Fibonacci 38.2%: 1.1287
    Daily Fibonacci 61.8%: 1.1273
    Daily Pivot Point S1: 1.1258
    Daily Pivot Point S2: 1.1223
    Daily Pivot Point S3: 1.1197
    Daily Pivot Point R1: 1.132
    Daily Pivot Point R2: 1.1346
    Daily Pivot Point R3: 1.1381

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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