EUR/USD Asia Price Forecast: Euro reversing up from fresh 2020 lows

After hitting fresh 2020 lows and a six-day losing streak EUR/USD is bouncing up.
EUR/USD will probably be probing the 1.0927 resistance.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a weak downtrend below the main daily simple moving averages (SMAs) as the spot is bouncing from levels not seen since October 2019.

EUR/USD four-hour chart

The euro broke below a bear channel while trading well below the main SMAs. Sellers want to extend the bear trend towards the 1.0900, 1.0881 and 1.0847 support on the way down, according to the Technical Confluences Indicator. However, if the bulls regain the 1.0927 and 1.0949 resistances the spot is at risk of a bullish reversal towards the 1.1000 figure.

Resistance: 1.0927, 1.0949, 1.1000

Support: 1.0900, 1.0881, 1.0847

Additional key levels

EUR/USD

Overview
Today last price	1.0922
Today Daily Change	0.0010
Today Daily Change %	0.09
Today daily open	1.0912

Trends
Daily SMA20	1.1049
Daily SMA50	1.1096
Daily SMA100	1.107
Daily SMA200	1.1122

Levels
Previous Daily High	1.0958
Previous Daily Low	1.0908
Previous Weekly High	1.1089
Previous Weekly Low	1.0942
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.0927
Daily Fibonacci 61.8%	1.0939
Daily Pivot Point S1	1.0894
Daily Pivot Point S2	1.0876
Daily Pivot Point S3	1.0844
Daily Pivot Point R1	1.0944
Daily Pivot Point R2	1.0976
Daily Pivot Point R3	1.0994

Author

Flavio Tosti

Independent Analyst

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