12 Aug 2019
EUR/USD technical analysis: Fiber pops to daily highs above the 1.1200 figure
- EUR/USD remained trapped in a five-day range as the market is hovering below the 1.1220 resistance.
- The level to beat for bears is the critical 1.1160 support.
EUR/USD daily chart
EUR/USD has been consolidating for the fifth consecutive day. Fiber is currently capped by the 1.1200 resistance and the 50/100-day simple moving averages (DSMAs).
EUR/USD 4-hour chart
The Euro is currently trapped in a range between the 1.1253 resistance and the 1.1160 support while capped below the 200 SMA. Sellers need a clear daily break below the 1.1160 key support, which could lead to a pullback down towards 1.1138 and 1.1105, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
The market tried to break below 1.1160 support, but the price bounced from there and reached a new daily high. However, to create a significant recovery buyers would need a daily close above 1.1220 and 1.1253, according to the Technical Confluences Indicator.
Additional key levels