EUR/USD technical analysis: Euro retracing down below 1.1380 resistance

• EUR/USD is pulling back down in the near term.
• The next supports to watch are at 1.1340 and 1.1310 on the way down.

EUR/USD daily chart

EUR/USD is trading above its main daily simple moving averages (DSMAs) suggesting that the bear trend might be weakening.

EUR/USD 4-hour chart

The market broke below 1.1380 strong support, according to the Technical Confluences Indicator. The market should keep declining towards the next support at 1.1340 and 1.1310.

EUR/USD 30-minute chart

EUR/USD is trading below 1.1380 resistance and the 50/100 SMAs suggesting a retracement down in the near term. According to the Technical Confluences Indicator, resistances are at the 1.1380 level and 1.1400 figure.

Additional key levels