EUR/USD technical analysis: Fiber trading at daily high near 1.1160 ahead of Consumer Sentiment Index

• The Michigan Consumer Sentiment Index is due at 14:00 GMT.
• The Chicago Purchasing Manager’s Index for May came in better-than-anticipated at 54.2 vs. 53.7 forecast with a limited reaction on EUR/USD. 

EUR/USD daily chart

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

EUR/USD 4-hour chart

The euro is testing the 50 SMA. 

EUR/USD 30-minute chart

EUR/USD is testing the 1.1160 resistance and the 200 SMA. A break above 1.1160 can lead to 1.1180 and 1.1200. Bears would need a daily close below 1.1140 to have a chance to reach the 2019 low at 1.1106. 

Additional key levels