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EUR/USD Technical Analysis: Bulls struggle near one-month-old descending trend-line, around 1.1400 handle

   •  The pair struggled to build on its strong intraday positive momentum further beyond the 1.1400 handle and started retreating from near one-month-old descending trend-line resistance. 

   •  Slightly overbought conditions on the 1-hourly chart seemed to be the only factor prompting some profit-taking following a strong up-move of over 100-pips from overnight swing lows.

   •  However, the fact that the pair remains well above important intraday moving averages - 50, 100 & 200-hour SMA, support prospects for some dip-buying interest on any meaningful slide.

   •  Moreover, technical indicators on 4-hourly/daily charts have just started gaining positive momentum and further add credence to the near-term constructive set-up.

   •  Meanwhile, sustained weakness back below mid-1.1300s might negate the bullish outlook and drag the pair back towards the 1.1300 round figure mark en-route the 1.1265 horizontal support.


    Today Last Price: 1.1378
    Today Daily change: 32 pips
    Today Daily change %: 0.282%
    Today Daily Open: 1.1346
    Previous Daily SMA20: 1.1354
    Previous Daily SMA50: 1.1396
    Previous Daily SMA100: 1.1494
    Previous Daily SMA200: 1.1712
    Previous Daily High: 1.136
    Previous Daily Low: 1.1302
    Previous Weekly High: 1.1444
    Previous Weekly Low: 1.1269
    Previous Monthly High: 1.15
    Previous Monthly Low: 1.1216
    Previous Daily Fibonacci 38.2%: 1.1337
    Previous Daily Fibonacci 61.8%: 1.1324
    Previous Daily Pivot Point S1: 1.1312
    Previous Daily Pivot Point S2: 1.1278
    Previous Daily Pivot Point S3: 1.1254
    Previous Daily Pivot Point R1: 1.1369
    Previous Daily Pivot Point R2: 1.1393
    Previous Daily Pivot Point R3: 1.1427


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