EUR/USD Asia Price Forecast: Euro capped by 1.0841 resistance vs. US dollar

EUR/USD mild bounce loses steam near 1.0841 resistance.
The level to beat for bears is the 1.0800 support.

Flavio Tosti Independent Analyst

EUR/USD daily chart

Euro/Dollar is trading below its main daily SMAs as the spot remains under selling pressure despite the mild bounce seen at the end of last week.

EUR/USD four-hour chart

EUR/USD is rejecting the 1.0841 resistance while trading below the main SMAs on the four-hour chart as the bearish bias remains firmly in place. The level to beat for sellers is seen near the 1.0800 figure. A break of which would lead to further selling likely sending the quote lower in the vicinities of the 1.0750 and 1.0714 support levels. On the flip side, resistance is seen near 1.0841, 1.0900 and 1.0965 levels, according to the Technical Confluences Indicator.

Resistance: 1.0841, 1.0900, 1.0965

Support: 1.0800, 1.0750, 1.0717

Additional key levels

EUR/USD

Overview
Today last price	1.0824
Today Daily Change	0.0002
Today Daily Change %	0.02
Today daily open	1.0822

Trends
Daily SMA20	1.0888
Daily SMA50	1.0957
Daily SMA100	1.1018
Daily SMA200	1.1043

Levels
Previous Daily High	1.083
Previous Daily Low	1.0727
Previous Weekly High	1.0897
Previous Weekly Low	1.0727
Previous Monthly High	1.1497
Previous Monthly Low	1.0636
Daily Fibonacci 38.2%	1.079
Daily Fibonacci 61.8%	1.0766
Daily Pivot Point S1	1.0756
Daily Pivot Point S2	1.069
Daily Pivot Point S3	1.0654
Daily Pivot Point R1	1.0859
Daily Pivot Point R2	1.0895
Daily Pivot Point R3	1.0961

Author

Flavio Tosti

Independent Analyst

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