Home EUR/USD Technical Analysis: A new visit to 1.1100 and below still remains on the table

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EUR/USD Technical Analysis: A new visit to 1.1100 and below still remains on the table

FX Street

Published date: 12 Aug. 2019 | 11:37

EUR/USD keeps the rangebound theme unchanged so far today despite the re-emergence of some selling bias.
Extra gains remain limited by the 1.1223/31 band, where converge the 100-day and 55-day SMAs ahead of monthly tops near 1.1250.
The inability of the pair to regain this area of resistance in the near term (the sooner the better) should encourage sellers to return to the market on a more convincing fashion, motivating spot to retreat to, initially, the 1.1100 neighbourhood ahead of 2019 lows near 1.1020.

EUR/USD daily chart

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