EURUSD (1H) - short term bearish bias
After a temporary rebound at the 20-day moving average, the single currency continues on its way down towards the 30-day moving average. The pair is looking for buying interest that has yet to show up. On the hourly chart, the euro broke below the support of 1.1130 as a sign of increased pressure. The moving averages are strong resistance and likely to contain any rally for the moment. The psychological level of 1.1100 will be a major floor to maintain the bullish sentiment in the medium term.
Key support: 1.1100
Key resistance: 1.1160
After a temporary rebound at the 20-day moving average, the single currency continues on its way down towards the 30-day moving average. The pair is looking for buying interest that has yet to show up. On the hourly chart, the euro broke below the support of 1.1130 as a sign of increased pressure. The moving averages are strong resistance and likely to contain any rally for the moment. The psychological level of 1.1100 will be a major floor to maintain the bullish sentiment in the medium term.
Key support: 1.1100
Key resistance: 1.1160
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.