EUR/USD technical analysis: Euro jumps near 1.1180 level as UK PM May is speaking

  • The 30-pip jump happened a few minutes before UK PM May delivered her speech. 
  • EUR/USD is regaining strength but can it sustain prices above 1.1180 resistance?

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main simple moving averages (SMAs). 

EUR/USD 4-hour chart

EUR/USD is trading below its main SMAs suggesting a bearish bias in the near term. 

EUR/USD 30-minute chart

EUR/USD reached the 1.1180 resistance and the 200 SMA. The currency pair is showing signs of strength. A break above 1.1180 can lead to 1.1200 and 1.1220. Support is at 1.1160 and 1.1150 level.

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