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29 Aug 2019
EUR/USD technical analysis: Euro drifting down near weekly lows post US GDP
- EUR/USD remains under pressure after the release of the US Gross Domestic Product.
- The level to beat for sellers is the 1.1062 support followed by the 1.1033 level.
EUR/USD daily chart
On the daily time-frame, the common currency is trading in a bear trend below the main daily simple moving averages (DSMAs). The US Gross Domestic Product Annualized (GDP) came in line with expectations at 2% in the second quarter.
EUR/USD 4-hour chart
The Fiber keeps drifting down below the main SMAs. The market is trading below the 1.1080 support, which is leaving the door open for a potential move down towards 1.1062 and 1.1033 levels, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is near the weekly lows trading below the main SMAs, suggesting a bearish momentum in the near term. Immediate resistances are seen at 1.1080, 1.1098 and 1.1117 levels, according to the Technical Confluences Indicator.
Additional key levels