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  • Breaking: USTR additional tariffs on some products will be delayed to December 15.
  • EUR/USD is challenging the daily lows near 1.1173 support.

 

EUR/USD daily chart

 
EUR/USD is consolidating for the sixth consecutive day. The single currency is capped by the 1.1220/55 resistances as well as the 50/100-day simple moving averages (DSMAs). The US announced that some tariffs will be delayed until December 15. The news was perceived as risk-on as US stock indices shot higher, safe-haven gold, yen and CHF sold-off and the greenback appreciated.  
 

EUR/USD 4-hour chart

 
EUR/USD is in a range between the 1.1255 resistance and the 1.1160 support while the market is trading below a downward sloping 200 SMA. Bears are probing the 1.1173 support. However, EUR/USD would need a daily close below 1.1160 to regain a convincing bearish potential.  
   
 

EUR/USD 30-minute chart

 
The range theme is still intact for now. However fundamental factors seem to be  turning in favor of the bears. Immediate resistances are seen at 1.1200 and 1.1220, according to the Technical Confluences Indicator.  
 
 

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