EUR/USD technical analysis: Euro consolidates gains just below 1.1300 handle
- EUR/USD is trading just below the 1.1300 figure.
- The level to beat for bulls is 1.1320 and 1.1347.
EUR/USD daily chart
EUR/USD is trading in a bear trend below its 200-day simple moving average (DSMA). However, the single currency has been rebounding sharply and seems to be poised to appreciate further as long as the 1.1200 support holds.
The market is trading above its main SMAs suggesting bullish momentum. Bulls will be looking to trade beyond 1.1320 resistance to reach 1.1347 resistance according to the Technical Confluences Indicator.
EUR/USD is trading above its main SMAs suggesting a bullish bias in the near term. The market is currently consolidating its gains below 1.1300. Support is at 1.1260 and 1.1230 according to the Technical Confluences Indicator.
Additional key levels
This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.