Euro eases from daily highs, bears challenge 1.1370 support

  


  • EUR/USD has been consolidating all week.
  • The level to beat for bears is the 1.1370 support.

EUR/USD daily chart

EUR/USD is dwelling above its main daily simple moving averages (DSMAs) suggesting that the bear trend might be at risk. The market has been in consolidation mode throughout the all week.


EUR/USD 4-hour chart

The market is constrained in a tight range between 1.1348 and 1.1400 figure. If bears break 1.1370, the next support can be seen at 1.1348 and 1.1305, according to the Technical Confluences Indicator.


EUR/USD 30-minute chart

EUR/USD rejected 1.1400 resistance suggesting a potential pullback down in the short term, especially if sellers break 1.1370 support. Resistances are at the 1.1400 figure and 1.1419 level.

Additional key levels

 



Source link