The EUR/USD pair moved on sentiment, dipping ahead of Wall Streets opening as stocks traded with a soft tone, later bouncing as equities jumped while government bond yields reached fresh weekly highs.
EUR/USD short-term technical outlook
From a technical perspective, the EUR/USD pair is mildly bullish, although additional confirmations are required. The 4-hour chart shows that the pair settled a few pips above a bearish 100 SMA while meeting buyers around a bullish 20 SMA. Technical indicators remain within positive levels but lack directional strength. The pair could extend its advance towards 1.1790, but gains beyond the latter are unlikely at this point.
Support levels: 1.1720 1.1685 1.1640
Resistance levels: 1.1790 1.1820 1.1865