EUR/USD technical analysis: Fiber sticks to 1.1130 while investors discard US GDP data

• EUR/USD is stabilizing near 1.1130 as the GDP has virtually no impact on the currency pair.
• EUR/USD is likely in search of direction as the market is ranging for the third day.

 
EUR/USD daily chart

EUR/USD is trading in a bear trend below its main daily simple moving averages (DSMAs). The market hit a new 2019 low on Thursday, but EUR/USD seems to have entered a consolidation phase near 1.1130. The US Gross Domestic Product (GDP) Annualized Q2 came in better-than-expected at 2.1% vs. 1.8% forecast but the data had virtually no impact on EUR/USD.

EUR/USD 4-hour chart

EUR/USD is below the 1.1148 resistance and its main SMAs, suggesting bearish momentum in the medium term. Buyers are currently keeping the market above 1.1130 and 1.1101 supports,  according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The market is stabilizing near 1.1130 while trading below its main SMAs. The market is entering its third day of consolidation. Immediate resistances on the way up are seen at the 1.1148, 1.1164 and 1.1194 level, according to the Technical Confluences Indicator.

Additional key levels