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EUR/USD technical analysis: Slow bullish grind ahead of the FOMC

  • EUR/USD is pressuring the daily highs as the market is nearing the 1.1072 resistance. 
  • Investors are awaiting the FOMC at 18:00 GMT for potential fresh directional clues. 
 

EUR/USD daily chart

 
The common currency, on the daily chart, is trading in a bear trend below its main daily simple moving averages (DSMAs). Investors will monitor the FOMC this Wednesday as market participants have already priced in a 25bps rate cut. 

EUR/USD four-hour chart

 
EUR/USD is trading between the 100 and 200 SMA, suggesting a sideways market in the medium term. The market is likely waiting for the FOMC before committing to the bullish or bearish side. If the market breaks the 1.1073 and 1.1118 resistances, EUR/USD can accelerate towards 1.1141 and 1.1176 price levels, according to the Technical Confluences Indicator
  
  
  

EUR/USD 30-minute chart

 
EUR/USD is grinding up above the main SMAs nearing the 1.1072 resistance. The market is mildly bullish ahead of the FOMC. Immediate support is at the 1.1044 level. Further down lie the 1.1000 support followed by the 1.0970 price level, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price 1.1067
Today Daily Change -0.0007
Today Daily Change % -0.06
Today daily open 1.1074
 
Trends
Daily SMA20 1.1049
Daily SMA50 1.1124
Daily SMA100 1.1181
Daily SMA200 1.1258
 
Levels
Previous Daily High 1.1076
Previous Daily Low 1.099
Previous Weekly High 1.111
Previous Weekly Low 1.0927
Previous Monthly High 1.1251
Previous Monthly Low 1.0962
Daily Fibonacci 38.2% 1.1043
Daily Fibonacci 61.8% 1.1023
Daily Pivot Point S1 1.1018
Daily Pivot Point S2 1.0961
Daily Pivot Point S3 1.0932
Daily Pivot Point R1 1.1103
Daily Pivot Point R2 1.1132
Daily Pivot Point R3 1.1188

 

 

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