13 Aug 2019
EUR/USD technical analysis: Fiber rolling into the Asian session below 1.1220 resistance
- EUR/USD is trapped in a five-day range as Fiber is entering the Asian session.
- EUR/USD is expected to stay sidelined as the market is relatively balanced.
EUR/USD daily chart
EUR/USD has been in consolidation mode for the fifth consecutive day. The Euro is currently capped by the 1.1220/55 resistances and the 50/100-day simple moving averages (DSMAs).
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 trying to have 4-hour close above the 200 SMA. Bears have now a significant support zone to break as they have to reach 1.1160 key support. Further down lie 1.1138 and 1.1105, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
The market tried to break above 1.1120 resistance, but the price got rejected from the Monday high. The buyers, to create a meaningful recovery, would need a daily close above 1.1220 and 1.1253, according to the Technical Confluences Indicator.
Additional key