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