The EUR/USD consolidated its losses and is looking for a new direction. In order to stage a recovery and not only a dead-cat bounce, there are some hurdles to cross.
The Technical Confluences Indicator shows that the 1.1444 is a convergence of potent technical lines: the Fibonacci 161.8% one-month, the Bolinger Band 4h-Middle, and the Bolinger Band one-day Lower. We also find Fibonacci 23.6% one-week just above.
A break will open the door to another resistance line close by 1.1474 which is the confluence of the Pivot Point one-month Support 2, and the Pivot Point one-day Resistance 2.
Support is at 1.1365 which is the meeting point of the recent 2018 low, the Pivot Point one-month Support 3, and the PP one-day Support 1.
Further down, there are very few support lines with one noteworthy point at 1.1326 which is the Fibonacci 161.8% one-day