EUR/USD technical analysis: Fiber fading 1.1180 resistance ahead of FOMC Minutes

• The FOMC Minutes will be published at 18:00 GMT this Wednesday. The news can lead to high volatility in USD-related pairs.
• EUR/USD is consolidating its losses above the 1.1140 level. Will the bear trend resume and bring the single surrency down to 1.1106, the 2019 low ?

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main simple moving averages (SMAs) as the market has been consolidating for the fourth day in a row.

EUR/USD 4-hour chart

EUR/USD is trading below its main SMAs suggesting a bearish momentum in the near term. 

EUR/USD 30-minute chart

EUR/USD reached the 1.1180 resistance but found no acceptance so far in the New York session. A break above 1.1180 can lead to 1.1200 and 1.1220. Bears would need a convincing break below 1.1140 to reach 1.1106, the current 2019 low.

Additional key levels