Home EUR/USD technical analysis: Fiber challenging key resistance at 1.1220
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EUR/USD technical analysis: Fiber challenging key resistance at 1.1220

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Published date:
  • The ISM Manufacturing PMI (May) in the US came in below expectations at 52.1 vs.53 forecast.
  • The data weaken the US dollar which was already on the back foot.

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main simple moving averages (SMAs). The market is testing the 50 SMA.


EUR/USD 4-hour chart

EUR/USD is trading above its main SMAs suggesting bullish momentum in the near term.

EUR/USD 30-minute chart

EUR/USD is testing an important resistance at 1.1220. If the common currency break above the level,  it could reach 1.1260 to the upside. Immediate support is seen at 1.1200, 1.1180 and 1.1160.  


Additional key levels

 

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