Home EUR/USD Technical Analysis: Stays fragile below the resistance line at 1.1287

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EUR/USD Technical Analysis: Stays fragile below the resistance line at 1.1287

FX Street

Published date: 16 May. 2019 | 10:03

EUR/USD manages to rebound from weekly lows near 1.1180 and has retaken the 1.1200 barrier, although the recovery lacks of conviction for the time being.
The critical resistance zone remains in the 1.1260/70 band, where converge recent peaks and the 55-day SMA. Spot should clear this area in the near term, otherwise sellers are likely to return to the markets.
In the meantime, EUR/USD remains offered below the key multi-month resistance line at 1.1287. Against this backdrop, another visit to YTD lows near 1.1100 remains well on the cards.

EUR/USD daily chart

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