EUR/USD techncial analysis: Fiber near daily lows and 1.1220 post-Consumer Sentiment Index

  • EUR/USD erased Fed’s William inspired gains seen on Thursday.
  • The market is having no significant reaction after the release of the Michigan Consumer Sentiment Index.

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main daily simple moving averages (DSMAs). The Michigan Consumer Sentiment Index (July) came in just below expecation at 98.4 vs. 98.5 forecast.

EUR/USD 4-hour chart

EUR/USD is challenging 1.1220 support while below the main SMAs. Bears want to break below the level and reach 1.1200 and 1.1160, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is trading below its main SMAs suggesting bearish momentum in the near term. Immediate resistance can be seen at 1.1255 and 1.1290, according to the Technical Confluences Indicator.

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