EUR/USD technical analysis: Fiber consolidates gains near 1.1250

• Earlier in the London session, the Core Consumer Price Index in May in the Eurozone came in below forecast at 0.8% vs. 0.9% expected by analysts, weakening EUR/USD.
• The market will be looking at the ISM Non-Manufacturing PMI for May on Wednesday for further directional clues.

EUR/USD daily chart

EUR/USD is in a bear trend below the 100 and 200 simple moving averages (SMAs).

EUR/USD 4-hour chart

EUR/USD is trading above its main SMAs suggesting a bullish bias in the near term.

EUR/USD 30-minute chart

EUR/USD is consolidating the recent rally. Bulls would need a break above 1.1280 to continue the recent rally. However, the main trend remains bearish and a drop below 1.1220 would open the doors to 1.1200 and 1.1180. Resistance is seen at 1.1260/80 and 1.1300.

Additional key levels