EUR/USD technical analysis: Euro under pressure below 1.1220 in the New York session

• EUR/USD is under selling pressure below the 1.1220 level.
• Market participants are waiting for the next catalyst.

EUR/USD daily chart

EUR/USD trading in a bear trend below its main daily simple moving averages (DSMAs). The currency pairs remains under pressure among speculations that that the European Central Bank may resume its asset purchases program and the the Federal Reserve will cut less than previously expected at the end of July.

EUR/USD 4-hour chart

The market is pressured below 1.1220 resistance. Sellers are challenging 1.1192 support. If broken to the downside, 1.1164 and 1.1106 can become the next targets on the way down, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

In the New York session, The market is under bearish pressure below 1.1220 and its main SMAs. Immediate resistances are seen at 1.1220, 1.1246, 1.1265 and the 1.1285 levels, according to the Technical Confluences Indicator.

Additional key levels