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7 Aug 2019
EUR/USD technical analysis: Fiber rolling into the Asian session near the 1.1200 figure
- Improved market mood strengthens the US Dollar sending EUR/USD down.
- The levels to beat for bears are at 1.1174 key support followed by the 1.1135 level.
EUR/USD daily chart
EUR/USD printed an indecision candle while trading in a bear trend below its main daily simple moving averages (DSMAs). The greenback is regaining some strength as China revalued the yuan, easing trade war tensions across market places.
EUR/USD 4-hour chart
EUR/USD is retracing down after hitting the 1.1250 level near the 200 SMA. The sellers want a break below 1.1174 key support. Follow-through below this level could see EUR/USD falling towards the 1.1135, 1.1121 and 1.1100 levels, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD had a bounce from the Tuesday lows near 1.1174 support. The move up is currently limited by the 1.1200 figure and the 50 SMA as the market is entering the Asian session. Bulls need to overcome 1.1220 and 1.1255 on a daily closing basis to have a convincing resumption of the bull move.
Additional key levels