EUR/USD Technical Analysis: Euro capped below 1.1400 post-US inflation

• EUR/USD is trading in a bear trend below the 200-period simple moving average. 
• Earlier in the day, he Core Personal Consumption Expenditures for September came in at 2% in line with analysts forecasts with mild reaction on the currency pair.
• EUR/USD is currently finding resistance near the 1.1400 figure as bears want a retest of the 1.1300 (2018 low). EUR/USD might have run its course as the market is forming a small head-and-shoulders pattern while technical indicators are gaining some bullish traction. Bulls would need a breakout above 1.1400 on a daily closing basis. After which 1.1430 and 1.1500 could potentially be back on the radar. Alternatively, failure to recapture 1.1400 in the coming sessions could lead to a slump to the 2018 low.  

EUR/USD 4-hour chart

Spot rate:             1.1374
Relative change:  -0.25%  
High:                    1.1417
Low:                     1.1360

Main trend:             Bearish

Resistance 1:   1.1400 figure
Resistance 2:   1.1430 October 9 low
Resistance 4:   1.1463 October 4 low
Resistance 5:   1.1500 figure and October 2 swing low 
Resistance 6:   1.1530 August 23 swing low (key level)

Support 1:   1.1350 figure
Support 2:   1.1300 current 2018 low
Support 3:   1.1200 figure