EUR/USD: Technical heading lower - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, explained that the technical indicators head lower, retreating from overbought territory, but still above their mid-lines.

Key Quotes:

"Price is back below its 100 SMA, whilst the 20 SMA maintains a strong upward slope near the 200 SMA, both offering immediate support around the 1.1200 level."

"In the 4 hours chart the price is falling towards a bearish 20 SMA whilst the technical indicators have turned lower around their mid-lines, supporting additional declines down to 1.1120, the key Fibonacci support that held the downside for most of this month."

"Support levels: 1.1205 1.1160 1.1120...Resistance levels: 1.1245 1.1280 1.1320."