EUR/USD technical analysis: Euro rolling into the Asian session near weekly lows, sub-1.1144 level

 

 

On the daily time-frame, the common currency is trading in a bear trend below its main daily simple moving averages (DSMAs). 

 

 

After six days of trading range, EUR/USD eventually broke below the 1.1160 support and the 100 SMA. The Euro reached the 1.1136 support, which is now the level to beat for bears. Looking down, the next supports are seen at the 1.1107, 1.1084 and 1.1061 levels.

 

 

Some profit-taking is making the market stall above the 1.1136 support. The bearish pressure remains and immediate resistances are seen at the 1.1144 and 1.1160 levels, according to the Technical Confluences Indicator.