EUR/USD technical analysis: Euro pressuring daily lows ahead of FOMC Minutes

• The FOMC Minutes are set to be released at 18:00 GMT this Wednesday. The news might lead to some volatility in USD-related pairs, although no fireworks are expected according to analysts.
• EUR/USD is consolidating its losses above the 1.1140 level. Will the sellers be able to send EUR/USD down to 1.1106, the 2019 low ?

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main simple moving averages (SMAs) while it has been consolidating for the fourth consecutive day.

EUR/USD 4-hour chart

EUR/USD is trading below its main SMAs suggesting a bearish bias in the near term. 

EUR/USD 30-minute chart

The market is currently trading just above the 1.1150 level and below its main SMAs. A break below 1.1140 can potentially send EUR/USD down to the 2019 low at the 1.1106 level. Resistances are at 1.1180 and the 1.1200 figure. 

Additional key levels