EUR/USD Technical Analysis: Upside remains capped by the 55-day SMA

After two sessions with losses, EUR/USD is now seeing some tepid recovery to the 1.1150/60 band.
In the meantime, a probable move lower remains well on the cards while below the key 55-day SMA in the 1.1230 region. This important hurdle is reinforced by recent failed bullish attempts.
The inability of the pair to regain this area of resistance in the near term (the sooner the better) should encourage sellers to return to the market on a more convincing fashion and trigger a move lower to, initially, the 1.1100 neighbourhood ahead of 2019 low at 1.1026.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1151
Today Daily Change	22
Today Daily Change %	0.12
Today daily open	1.1138

Trends
Daily SMA20	1.1168
Daily SMA50	1.1236
Daily SMA100	1.1223
Daily SMA200	1.1294

Levels
Previous Daily High	1.1192
Previous Daily Low	1.1131
Previous Weekly High	1.1251
Previous Weekly Low	1.1104
Previous Monthly High	1.1373
Previous Monthly Low	1.106
Daily Fibonacci 38.2%	1.1154
Daily Fibonacci 61.8%	1.1168
Daily Pivot Point S1	1.1116
Daily Pivot Point S2	1.1092
Daily Pivot Point S3	1.1054
Daily Pivot Point R1	1.1176
Daily Pivot Point R2	1.1214
Daily Pivot Point R3	1.1238

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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