EUR/USD technical analysis: Fiber starting the week on the defensive below 1.1200 the figure

• Spring Bank holiday in the UK and Memorial Day in the US keep the markets rather quiet this Monday. 
• The European elections had virtually no effect on the single currency. 
• USD is having a mild rebound as the 10-year Bund yields are at multi-year lows.

EUR/USD daily chart

EUR/USD is trading in a bear trend below its main simple moving averages (SMAs). The single currency is starting the week on the defensive unable to move beyond the 1.1200 figure.

EUR/USD 4-hour chart

EUR/USD is retreating from the 1.1220 resistance and the 200 SMA. 

EUR/USD 30-minute chart

EUR/USD is losing some steam below the 1.1200 figure and the 50 and 100 SMAs. For the time being, bears seem to have taken the helm at least to 1.1180 and 1.1160 support to the downside. Resistances are seen at the 1.1200 and 1.1220 levels.

Additional key levels