EUR/USD technical analysis: Fiber trading below 1.1380 post-US GDP

• EUR/USD is consolidating in the near term.
• Supports are at 1.1340 and 1.1310.

The US Gross Domestic Product Q1 came in line with expectations. The USD is gaining some strength against the euro.

EUR/USD daily chart

EUR/USD is trading above its main daily simple moving averages (DSMAs) suggesting that the bear can potentially be at risk.

EUR/USD 4-hour chart

The market is consolidating between 1.1340 and 1.1400 figure. If 1.1340 gets broken to the downside, the next support can be at 1.1310 according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is faltering below 1.1380 resistance and its main SMAs suggesting a retracement down in the near term. According to the Technical Confluences Indicator, resistances are at the 1.1380 level and 1.1400 figure.

Additional key levels