EUR/USD technical analysis: Fiber is trading near 1.1160 close to the weekly low
|- Earlier in the New York session, the Michigan Consumer Index for April came in better-than-anticipated at 102.4 vs. 97.5 forecast.
- EUR/USD dropped about 20 pips down from the 1.1180 resistance on the bullish US data.
EUR/USD daily chart
EUR/USD is trading in a bear trend below its main simple moving averages (SMAs).
EUR/USD is trading below its main SMAs suggesting a bearish bias in the near term.
EUR/USD 30-minute chart
The market is trading below its main SMAs suggesting bearish momentum in the short term. The market is repeatedly challenging 1.1160 support. A break below this level can lead to 1.1140 and 1.1110 to the downside. Resistance is seen at 1.1180, 1.1200 and 1.1220 levels.
Additional key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.