12 Aug 2019
EUR/USD technical analysis: Fiber eases from daily highs, sub-1.1220 resistance
- EUR/USD is trapped in a five-day range as Fiber easing from the 1.1220 resistance.
- The level to beat for bears is the key 1.1160 support.
EUR/USD daily chart
EUR/USD is consolidating for the fifth consecutive day. Fiber is currently capped by the 1.1220 resistance and the 50/100-day simple moving averages (DSMAs).
EUR/USD 4-hour chart
EUR/USD is in a range between the 1.1253 resistance and the 1.1160 support while the market is testing the 200 SMA. Bears 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 above 1.1120 resistance, but the price is currently rejected from the new daily high. However, to create a meaningful recovery, bulls would need a daily close above 1.1220 and 1.1253, according to the Technical Confluences Indicator.
Additional key levels