EUR/USD Technical Analysis: Current bull move looking weak in the near-term

• The last twenty-four hours in the EUR/USD sees intraday action near the 1.1450 level heading into Tuesday’s major market sessions, after catching a confusing lift on Monday from a floor near 1.1390.
• Intraday support is sitting at the 38.2% Fibo retracement level near 1.1435, and it could be a pivotal intraday zone.
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EUR/USD Chart, 5-Minute

• Over the past two weeks, the Fiber bounced from the 1.1200 zone to stage a near-term bullish correction, and with the 100-hour moving average resting at 1.1360, a decline to this region is likely to see some bidding about the region as buyers try to force a fresh higher low.

EUR/USD Chart, 30-Minute

• Going back over the past four months, the EUR/USD remains in a dedicated downtrend, though medium-term boundaries are currently being tested, with the latest bull run facing a confluence zone at the 38.2% Fibo retracement level alongside the 200-period moving average, a dynamic resistance indicator that has kept the Fiber in chains since falling from a medium-term peak of 1.1815.

EUR/USD Chart, 4-Hour