EUR/USD Asia Price Forecast: Euro bouncing from multi-year lows, approaching 1.0900 figure

EUR/USD is reversing up while bouncing from 34-month lows.
The level to beat for bulls is the 1.0883 resistance.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a downtrend below its main daily simple moving averages (SMAs) as the quote is correcting up from 34-month lows. EUR/USD is also challenging the 2019 low at the 1.0879 level.

EUR/USD four-hour chart

The euro broke below a bear channel in early February and is now bouncing up from the 1.0800 figure. Buyers are ending the day near 1.0883 resistance. A break beyond the above-mentioned level should generate extra gains towards 1.0923 and 1.0985 levels. Support is seen near and 1.0800 and 1.0754 price levels, according to the Technical Confluences Indicator.

Resistance: 1.0883, 1.0923, 1.0985

Support: 1.0800, 1.0754 1.0660

Additional key levels

EUR/USD

Overview
Today last price	1.0884
Today Daily Change	0.0032
Today Daily Change %	0.29
Today daily open	1.0852

Trends
Daily SMA20	1.0925
Daily SMA50	1.1044
Daily SMA100	1.1058
Daily SMA200	1.1104

Levels
Previous Daily High	1.0872
Previous Daily Low	1.0805
Previous Weekly High	1.0864
Previous Weekly Low	1.0778
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.0847
Daily Fibonacci 61.8%	1.0831
Daily Pivot Point S1	1.0814
Daily Pivot Point S2	1.0776
Daily Pivot Point S3	1.0747
Daily Pivot Point R1	1.0881
Daily Pivot Point R2	1.091
Daily Pivot Point R3	1.0949

Author

Flavio Tosti

Independent Analyst

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