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EUR/USD technical analysis: Euro losing some steam below 1.1418 resistance

  • The bear trend is in peril as the market is trading above its main SMAs.
  • In the near term, EUR/USD is seen correcting down while below 1.1418 resistance.

EUR/USD daily chart

EUR/USD is popping above its main daily simple moving averages (DSMAs) suggesting that the bear trend might be coming to an end.


EUR/USD 4-hour chart

The market is under bullish pressure above its main SMAs suggesting a positive bias in the medium term. The market is testing a strong support according to the Technical Confluences Indicator. If broken to the downside, the next support can be seen at 1.1340 and 1.1310.


EUR/USD 30-minute chart

EUR/USD is trading below the 1.1400 mark and its 50 SMA. According to the Technical Confluences Indicator, resistances are at the 1.1400 figure and the 1.1418 levels.

Additional key levels

 

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