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EUR/USD technical analysis: Euro clings to weekly gains after the London close

  • The Greenback weakness is pushing EUR/USD to the 1.1160 level after the London close. 
  • The level to beat for buyers is 1.1160, followed by the 1.1191 level. 

 

EUR/USD daily chart

 
 
On the daily chart, the single currency is trading in a bear trend below the 200-day simple moving averages (DSMAs). However, this Friday, the Fiber broke above the 100 DSMA, today at 1.1138. 

EUR/USD four-hour chart

 
 
The Euro is trading above the main SMAs, suggesting bullish momentum in the medium term. EUR/USD is clinging to October highs while trading above September highs. A breakout above 1.1160 resistance could open the gates to the 1.1191 resistances on the way up, according to the Technical Confluences Indicator.
 

EUR/USD 30-minute chart

 
 
EUR/USD is trading above the main SMAs, suggesting bullish momentum in the near term. Support can be seen at the 1.1140 and 1.1110 price levels. 
 

Additional key levels

 

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