The EUR/USD pair has bottomed at 1.1705 in the previous week, while at 1.1703 in March, and would need now to break below the 1.1700 price zone to resume its bearish trend. The daily chart shows that the recovery stalled around a flat 20 SMA, while technical indicators recovered within negative levels, suggesting limited buying interest. The bullish case will be stronger if the pair advances beyond 1.1920, quite unlikely at this point. In the 4-hour chart, the pair is now well above a mildly bullish 20 SMA but met sellers around the 100 SMA, as technical indicators retreat from near oversold readings, in line with the longer-term perspective.
Support levels: 1.1750 1.1705 1.1660
Resistance levels: 1.1790 1.1830 1.1880