EUR/USD holds above the 1.1200 level - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair shed some ground at the end of the day, but holds above the 1.1200 level.
Key Quotes:
"The technical bias is still neutral, although the bearish potential is slowly increasing as in the 4 hours chart, the price has been unable to recover beyond a bearish 20 SMA, although in the mentioned chart, the technical indicators diverge from each other around their mid-lines, indicating to clear directional strength."
"The market is all about the greenback these days, and further dollar gains can push the pair below the 1.1200 mark, opening doors for a retest of last week low in the 1.1120 region. To the upside, a daily descendant trend line coming from 1.1615 is the level to surpass to deny a bearish move and see the price retesting this September high at 1.1366.
The big bluff in the era of Central Bank monetary socialism