EUR/USD technical analysis: Euro advances to 1.0930 as ISM Manufacturing PMI drop to 10-year lows

10/01/2019 16:13:14 GMT|ByFlavio Tosti

EUR/USD is heading towards the 1.0940 resistance on US Dollar weakness.
The ISM Manufacturing PMI data came in at its lowest since 2009. It fell to 47.8 points in September.

EUR/USD daily chart

The common currency, on the daily time frame, is trading in a bear trend below the main daily simple moving averages (DSMAs). In the European session, the Eurozone inflation came in mixed, having virtually no effect on the EUR/USD. In the New York session, the ISM Manufacturing PMI came in below expectations at 47.8 vs. 50.1 forecast, which is the worst reading since 2009.

EUR/USD four-hour chart

EUR/USD is trading below the main SMAs, suggesting a bearish bias in the medium term. The market is regaining some ground, although still technically in a bear trend. However, a break above the 1.0940/75 resistance would confirm a reversal up.

EUR/USD 30-minute chart

EUR/USD is trading above the main SMAs, suggesting increasing bullish momentum in the near term. The market broke above the 1.0912 resistance and is en route towards the 1.0940 level. A break above this level can lead to the 1.0975 price level, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.0932
Today Daily Change	0.0033
Today Daily Change %	0.30
Today daily open	1.0899

Trends
Daily SMA20	1.101
Daily SMA50	1.1076
Daily SMA100	1.1161
Daily SMA200	1.1241

Levels
Previous Daily High	1.0948
Previous Daily Low	1.0885
Previous Weekly High	1.1026
Previous Weekly Low	1.0905
Previous Monthly High	1.111
Previous Monthly Low	1.0885
Daily Fibonacci 38.2%	1.0909
Daily Fibonacci 61.8%	1.0924
Daily Pivot Point S1	1.0874
Daily Pivot Point S2	1.0849
Daily Pivot Point S3	1.0812
Daily Pivot Point R1	1.0936
Daily Pivot Point R2	1.0973
Daily Pivot Point R3	1.0999

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