EUR/USD Technical Analysis: Euro dropping at weekly low near 1.1170 level

EUR/USD daily chart

• EUR/USD is trading in a bear trend below its main simple moving average (SMAs).
• The risk-off mood lead to USD demand dragging EUR/USD down.

EUR/USD 4-hour chart

• EUR/USD is trading below its main SMAs while the market is trading at weekly lows.

EUR/USD 30-minute chart

• EUR/USD is trading at weekly lows and below its main SMAs suggesting a bearish bias in the short-term. 
• If the 1.1170 is cracked to the downside the 1.1140 and 1.1100 can come into play.
• Resistance is at 1.1200 and 1.1220 level.

Additional key levels