EUR/USD: Short-term resistance levels holds as greenback outperforms amongst the FX majors
Retracement fails to upend current positive technical bias that has formed on the daily chart.

EUR/USD Technical analysis, overview, strategies, and levels
Final manufacturing PMIs (Purchasing Managers Index) for the Eurozone were mostly better than preliminary figures, and where Sentix's investor confidence figure showed a better than expected but still contracting reading. And with little out of the Eurozone today, attention will be on US ISM's (Institute for Supply Management) reading, especially in light of record highs in the US stock market and yesterday’s outperformance from the US dollar compared to the remaining FX majors. From a technical standpoint, the pair’s daily bull trend line is still holding, and its price nearly crossed below its 100-day moving average.
Current Technical Overview | Consolidation - Positive Bias |
Technical Overview Conformist Strategies | Sell 1st Resistance After Reversal, Buy 1st Support At/Before Price |
Technical Overview Contrarian Strategies | Buy 1st Resistance Upon Breakout From Below, Sell 1st Support Upon Breakout From Above |
S/L for 2nd Resistance | 1.1218 |
2nd Resistance | 1.1200 |
S/L for 1st Resistance | 1.1182 |
1st Resistance | 1.1164 |
Relative Starting Point | 1.1128 |
1st Support | 1.1092 |
S/L for 1st Support | 1.1074 |
2nd Support | 1.1056 |
S/L for 2nd Support | 1.1038 |
IG client and CoT sentiment for EUR/USD
Retail traders aren’t complaining on the recent price drop, giving a chance for fresh shorts initiated at 1.1170s a chance to take profit and pushing majority short bias 6% closer to the middle.

EUR/USD Chart with retail and institutional sentiment

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