EUR/USD technical analysis: Fiber trading at daily lows near the 1.1200 figure

• EUR/USD is under bearish pressure near the 1.1200 level.
• Dovish comments from ECB’s Benoit Coeuré exacerbate the negative sentiment on the EUR.

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main daily simple moving averages (DSMAs). Adding to the negative sentiment on the currency pairs are the comments from Benoit Coeuré. He said that the European Central Bank could resume its asset purchases program if needed and that the accommodative policy is needed "more than ever".

EUR/USD 4-hour chart

The market is under pressure below 1.1200 support. The market is in consolidation mode just above this level. Bears want to have a daily close below 1.1200 to reach 1.1192, 1.1164 and 1.1106 on the way down, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The market is under bearish pressure below its main SMAs. Immediate resistances are seen at 1.1200, 1.1246, 1.1265 and the 1.1285 levels, according to the Technical Confluences Indicator.

Additional key levels