EUR/USD Asia Price Forecast: Euro easing down after Friday’s surge

The market is erasing parts of last Friday’s surge.
The level to beat for sellers is the 1.1060 support.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a weak downtrend below its main simple moving averages (SMAs) as the spot broke below an ascending trendline. The euro last Friday bounced and tested the trendline. The spot stays weak below the 200 SMA/1.1200 zone and is likely to enter a triangle consolidation in the coming sessions.

EUR/USD four-hour chart

EUR/USD is trading in a bear channel below the 100 and 200 SMAs. The spot almost reached the 1.1100 resistance and is now easing from this swing high. As the euro remains weak, a break below the 1.1060 support can lead to a retest of 1.1033 and 1.1000 figure. On the flip side, a break above the 1.1100/1.1140 resistance zone could endanger the bearish scenario, according to the Technical Confluences Indicator.

Support: 1.1060, 1.1033, 1.1000

Resistance: 1.1080, 1.1100, 1.1140

Additional key levels

EUR/USD

Overview
Today last price	1.106
Today Daily Change	-0.0031
Today Daily Change %	-0.28
Today daily open	1.1091

Trends
Daily SMA20	1.1093
Daily SMA50	1.11
Daily SMA100	1.1072
Daily SMA200	1.1128

Levels
Previous Daily High	1.1092
Previous Daily Low	1.1017
Previous Weekly High	1.1092
Previous Weekly Low	1.0992
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.1063
Daily Fibonacci 61.8%	1.1046
Daily Pivot Point S1	1.1041
Daily Pivot Point S2	1.0992
Daily Pivot Point S3	1.0966
Daily Pivot Point R1	1.1116
Daily Pivot Point R2	1.1142
Daily Pivot Point R3	1.1191

Author

Flavio Tosti

Independent Analyst

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