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Trading news
16 Apr 2019
EUR/USD Technical Analysis: Resistance lies in the low-1.1300s, where is located the 55-day SMA
- The rally in EUR/USD met strong resistance in the 1.1320 region for the time being.
- The 55-day SMA at 1.1311 remains as a key hurdle for EUR-bulls ahead of the 100-day SMA at 1.1345. This area is reinforced by the critical 200-week SMA at 1.1337.
- Looking at the broader picture, the negative view stays intact as long as the +6-month resistance line, today at 1.1395, caps the upside. In this scenario, another test of 2019 lows in the 1.1180/70 band stays on the cards for the time being.
EUR/USD daily chart
