Aug 19, 2019
EUR/USD Technical Analysis: Bearish note unchanged below the 55-day SMA
- EUR/USD is now attempting some rebound after bottoming out in the proximity of 1.1060 in late last week.
- Immediately to the upside emerges the interim resistance at the 21-day SMA at 1.1149 ahead of the 10-day SMA at 1.1159.
- While below the 55-day SMA near 1.1230, further retracements in spot – including a test of 2019 lows at 1.1026 – should remain on the table in the short-term horizon. This area of resistance is reinforced by monthly tops at 1.1249.
EUR/USD daily chart