EUR/USD Technical Analysis: Fiber on the back foot after US CPI and ECB

EUR/USD daily chart

• EUR/USD is trading in a bear trend below its 200-day simple moving average (SMA).

EUR/USD 4-hour chart

• EUR/USD is trading below its 100 and 200 SMAs suggesting a bearish bias in the medium-term.

EUR/USD 30-minute chart

• EUR/USD rejected 1.1300 resistance as the market is about to test the 1.1250 support.
• A break below 1.1250 can lead to a decline to 1.1220 support.
• Resistance is at 1.1280 and 1.1330 level.
   

Additional key levels