EUR/USD Price Analysis: Euro ends the week below the 1.1200 handle

 

 

The market is retracing down while above the main daily simple moving averages. 

 

 

EUR/USD is reversing up from the 1.1150/32 support zone while above the main SMAs. Buyers need a break of the 1.1190 resistance. But, since the euro has been so two-sided, the market is probably going to stay within the 1.1150-1.1190 range in the medium term. A daily break above 1.1190 could imply a spike to 1.1225 and 1.1248 levels, according to the Technical Confluences Indicator. Conversely, sellers want to pierce the 1.1150/32 price zone to reach the 1.1098/74 level.