9 Aug 2019
EUR/USD technical analysis: Euro rolling into the Asian session below the 1.1200 handle
- The US Dollar is up slightly as US yields paused their fall and US stock indices shot higher.
- The level to beat for sellers is the 1.1174 key support.
EUR/USD daily chart
EUR/USD is in a consolidation phase while being capped by the 1.1253 resistance and the 50/100-day simple moving averages (DSMAs). The greenback is currently supported by the stabilization in the 10-year bond yields and the US equity market leaping higher.
EUR/USD 4-hour chart
The market has been rejecting attacks at the 1.1220 resistance and the 200 SMA, suggesting potential weakness in the medium term. Sellers are looking for a clear break below the 1.1774 key support. If the breakdown succeeds, EUR/USD could re-visit 1.1138 and 1.1105 to the downside, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
The market is trading below 1.1200 and the 200 SMA, suggesting a correction down in the short term. Bulls would need a daily close above 1.1253 resistance to resume the bull trend and reach 1.1282 resistance to the upside.
Additional key levels