EUR/USD technical analysis: Euro hovering near weekly lows, sub-1.1160 level

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  • EUR/USD is trading at weekly lows below the critical 1.1160 level.
  • The level to beat for bears is the 1.1136 support. 
 

EUR/USD daily chart

 
On the daily time-frame, the single currency is trading in a bear trend below its main daily simple moving averages (DSMAs). 

 

EUR/USD 4-hour chart

 
After six days of consolidation, EUR/USD finally broke below the 1.1160 support and the 100 SMA. The market reached the 1.1136 support, which becomes the level to beat for bears. The next supports on the way down are seen at the 1.1107, 1.1084 and 1.1061 levels.
 

EUR/USD 30-minute chart

 
The market is under bearish pressure below its main SMAs. Immediate resistances are seen at the 1.1160 and 1.1200 levels, according to the Technical Confluences Indicator. 
 
  

Additional key levels

 

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