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EUR/USD Technical Analysis: flirting with 1.14, 4H 200MA is offering support

The EUR/USD pair is on the defensive at 1.14, although the downside is being capped by the 4-hour 200-candle MA of 1.1390.

4-hour chart

The lower highs and lower lows, as seen in the above chart, indicate that the path of least resistance is to the downside. The relative strength index (RSI) is also biased bearish below 50.00.

Even so, the 200-candle simple moving average (SMA) support is proving a tough nut to crack. Hence, that MA of 1.1390 is the now the level to beat for the bears.

Acceptance under that would open up downside toward 1.1306 (Jan. 3 low). On the higher side, a move above the 10-day MA of 1.1450 would weaken the bearish pressure.   

Trend: bearish

EUR/USD

Overview:
    Today Last Price: 1.14
    Today Daily change: -13 pips
    Today Daily change %: -0.114%
    Today Daily Open: 1.1413
Trends:
    Previous Daily SMA20: 1.1432
    Previous Daily SMA50: 1.1385
    Previous Daily SMA100: 1.1471
    Previous Daily SMA200: 1.1619
Levels:
    Previous Daily High: 1.1491
    Previous Daily Low: 1.1382
    Previous Weekly High: 1.1571
    Previous Weekly Low: 1.1396
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Previous Daily Fibonacci 38.2%: 1.1424
    Previous Daily Fibonacci 61.8%: 1.145
    Previous Daily Pivot Point S1: 1.1366
    Previous Daily Pivot Point S2: 1.1319
    Previous Daily Pivot Point S3: 1.1257
    Previous Daily Pivot Point R1: 1.1476
    Previous Daily Pivot Point R2: 1.1538
    Previous Daily Pivot Point R3: 1.1585

 

 

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