EUR/USD Technical Analysis: Rising odds for a move lower to 1.1026

FX Street

Updated: 29 Aug. 2019 | 12:52

Price action in EUR/USD remains fragile so far this week following the rejection from Monday’s tops in the 1.1160 area.
The immediate hurdle in case the upside bias returns to the markets is located at this week’s peak at 1.1163 (Monday) ahead of the Fibo retracement at 1.1186. Above this zone, the 1.1199/1.1206 band, coincident with the 55-day and 100-day SMAs, emerges as a more significant resistance.
If the sellers regain the upper hand, a visit to last week’s low at 1.1051 should be back to the horizon ahead of 2019 lows at 1.1026.

EUR/USD daily chart

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