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  • EUR/USD is under bearish pressure below the 1.1220 level.
  • ECB’s Benoit Coeuré comments keep the sentiment negative on the Euro.

EUR/USD daily chart

EUR/USD is in a bear trend below its main daily simple moving averages (DSMAs). The currency pairs remains under pressure as earlier Benoit Coeuré said that the European Central Bank may resume its asset purchases program if needed and that the accommodative policy is needed “more than ever”.

EUR/USD 4-hour chart

The market is under pressure below 1.1220 resistance. The market is consolidation in a tight range. Sellers want a daily close below 1.1220 to travel south towards 1.1192, 1.1164 and 1.1106 on the way down, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The market enters the second part of the New York session under bearish pressure below 1.1220 and its main SMAs. Immediate resistances are seen at 1.1220, 1.1246, 1.1265 and the 1.1285 levels, according to the Technical Confluences Indicator.

Additional key levels