Home EUR/USD Technical Analysis: Still looks negative below 1.1391, 6-month resistance line

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EUR/USD Technical Analysis: Still looks negative below 1.1391, 6-month resistance line

FX Street

Published date: 17 Apr. 2019 | 10:17

EUR/USD has so far managed to reverse yesterday’s drop to fresh weekly lows in the 1.1280 region.
Spot has regained 1.1300 the figure today and markets’ attention has once again shifted to the critical 200-week SMA near 1.1340 ahead of the 100-day SMA, today at 1.1345.
Looking at the broader picture, the offered bias remains unchaged as long as the +6-month resistance line, today at 1.1391, caps the upside. In this scenario, another test of 2019 lows in the 1.1180/70 band stays on the cards for the time being.

EUR/USD daily chart

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