Euro ending the week near the 1.1200 handle as the market stays trapped in a four-day range

  • Italian political uncertainties can negatively affect the EUR in the coming days.
  • The level to beat for bears is the critical 1.1174 support.



EUR/USD daily chart


EUR/USD has been consolidating for the fourth consecutive day. Fiber is currently capped by the 1.1253 resistance and the 50/100-day simple moving averages (DSMAs). The greenback is flat as the 10-year bond yields and US equities are both recovering. On the other hand, the sentiment on the EUR is set to remain negative, in part, to political uncertainties in Italy. 


EUR/USD 4-hour chart


The Euro is currently trading in a range between the 1.1253 resistance and the 1.1174 level while capped below the 200 SMA. Bears would need a clear break below the 1.1174 key support which could lead to a retracement down towards 1.1138 and 1.1105, according to the Technical Confluences Indicator



EUR/USD 30-minute chart


The market tried to break above 1.1220 resistance but the price was rejected. If buyers have a daily close above 1.1220 and 1.1253 it would likely invalidate the bearish scenario, according to the Technical Confluences Indicator. 



Additional key levels


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