EUR/USD technical analysis: Fiber caught in a neverending chop near 1.1200 handle

• Fed’s Powell speech did not provide the volatility needed for the market to escape the tight trading range.
• 1.1200 has been capping prices in the Asian and European session.

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main simple moving averages (SMAs).

EUR/USD 4-hour chart

EUR/USD is trading below its main SMAs while the market has been consolidatin.g since this Monday.

EUR/USD 30-minute chart

EUR/USD has kept the range theme intact since this Monday.
Bears are looking for a break below 1.1170 to reach 1.1140 and potentially 1.1100 figure.
Resistance is at 1.1200 and 1.1220 level.

Additional key levels