EUR/USD Asia Price Forecast: Euro advances in two-week highs, approaching 1.1000 figure

EUR/USD correction up is nearing the 1.1000 figure.
EUR/USD is also nearing the 200 SMA on the four-hour chart.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading below the 100 and 200 SMAs on the daily chart but above the 50 SMA. The market is rebounding from the 1.0800 figure as bulls are capitalizing on last week’s gains.

EUR/USD four-hour chart

The fiber continues to consolidate below the 200 SMA suggesting a negative bias in the medium term. However, the spot is advancing slowly towards the 1.1003 resistance near the 200 SMA and below this level EUR/USD is likely to be capped. However further upwards traction above can introduce scope to the 1.1037 and 1.1060 level which might be on the bulls’radar. On the flip side bears will be looking to resume the underlying bear trend especially on a break below the 1.0970 level en route to 1.0912 and 1.0877 price levels, according to the Technical Confluences Indicator.

Resistance: 1.1003, 1.1037, 1.1060

Support: 1.0970, 1.0912, 1.0877

Additional key levels

EUR/USD

Overview
Today last price	1.0982
Today Daily Change	0.0068
Today Daily Change %	0.62
Today daily open	1.0914

Trends
Daily SMA20	1.0895
Daily SMA50	1.0969
Daily SMA100	1.1035
Daily SMA200	1.106

Levels
Previous Daily High	1.0968
Previous Daily Low	1.0893
Previous Weekly High	1.0952
Previous Weekly Low	1.0768
Previous Monthly High	1.1497
Previous Monthly Low	1.0636
Daily Fibonacci 38.2%	1.0921
Daily Fibonacci 61.8%	1.0939
Daily Pivot Point S1	1.0882
Daily Pivot Point S2	1.085
Daily Pivot Point S3	1.0807
Daily Pivot Point R1	1.0957
Daily Pivot Point R2	1.1
Daily Pivot Point R3	1.1032

Author

Flavio Tosti

Independent Analyst

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