The 55 Moving Average is acting as resistance. In this case, the pair is likely going to reach the next resistance...
Tag - eur
Technical analysis of EURUSD
EUR/CAD tested 1.5040 yesterday but then closed below 1.50.
EUR/USD formed a bearish candlestick with a big upper wick on the weekly chart.
Recent European economic data seemed to bring optimism to the euro area.
EUR/JPY has been trading within an uptrend channel since the end of March.
EUR/USD will remain under negative pressure as long as it stays below the weekly pivot point at 1.1262.
Investors are cautious ahead of the Fed’s meeting.
Now we are much more certain that the pair will test lower levels.
EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum.
Technical analysis of EUR/AUD
EUR/CAD made a big breakout to the downside. On W1, you will see that it broke the support line from 2015.