The Euro weakened due to the uncertainty regarding the future of the UK and Italian banks. The Italian Government is considering banks recapitalization to overcome the current situation.
The pair remained below the upward channel. There was an attempt to grow that failed. The pair bounced upwards from the 50-day moving average and approached the 200-day moving average on the 4 hour chart. However, the returned sellers sent the price below 1.1130. The resistance stands at 1.1130, the support lies in at 1.1000.
Technically the indicators remained in a green zone. The indicator MACD decreased. If its histogram returns into a negative area it will be a sign to sell. RSI moved away from an oversold area, which is a sell signal. The moving averages (50, 100 and 200) are horizontal. The 50-day moving average is a resistance.
We are looking for the support 1.1050 break and then continuation of a fall with a further target at 1.1000. Otherwise, the pair may grow 1.1200-1.1220.=