Home EUR/USD technical analysis: Bulls losing momentum, eyes back to 20 WMA at 1.1270

EUR/USD technical analysis: Bulls losing momentum, eyes back to 20 WMA at 1.1270

Updated: 13 Jun. 2019 | 01:52

EUR/USD holds above the 2018- 2019 downtrend but struggles below the 200 week ma at 1.1347 and confluence with the 200 day ma at 1.1364.
Bulls can run towards 1.1570 2019 high as there is no resistance on the way there.
Momentum is slowing to the upside, so a focus is back to the wedges prior resistance line.
A break out of the interim and steep channel, bears will look to the 20 WMA at 1.1270 and prior wedge resistance.
Below there guards the 20 DMA ahead of the 1.1100 support.

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