Home EUR/USD technical analysis: Euro under pressure near 1.1215 ahead of Fed’s Powell speech
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EUR/USD technical analysis: Euro under pressure near 1.1215 ahead of Fed’s Powell speech

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  • EUR/USD is hovering near the daily lows as bears challenge the 1.1215 level.
  • The level to beat for bears is at 1.1215 followed by 1.1160 to the downside.

EUR/USD daily chart

EUR/USD is in a bear trend below the 1.1300 handle and its main daily simple moving average (DSMA). ECB’s Villeroy dovish comments are keeping the sentiment negative on EUR. On the other hand, US Retail Sales in June came better-than-expected strengthening the USD. Market participants are going to pay close attention the Fed’s chair Powell speech at 17.00 GMT.  

EUR/USD 4-hour chart

EUR/USD is trading near 1.1215 support while below its main SMAs. The bears want to break below this level to potentialy reach 1.1160, according to the Technical Canfluences Indicator.


EUR/USD 30-minute chart

EUR/USD is trading at daily lows near 1.1215 support below the main SMAs, all-in-all suggesting a bearish bias. Immediate resistances are seen near 1.1250 and 1.1320.  

Additional key levels

 

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