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EUR/USD Price Analysis: Euro bounces from session’s lows, nearing 1.1065 level

  • EUR/USD retracement up challenges the 1.1060 resistance and the 100 SMA on the four-hour chart.
  • The next levels of resistance are seen near 1.1100 and 1.1163.

EUR/USD daily chart 

EUR/USD bounced sharply from the 2020 lows while challenging the main SMAs on the daily chart. This Friday the correction up seems to decelerate near the 200 SMA on the daily chart and below the 1.1100 figure.  
 

EUR/USD four-hour chart

EUR/USD bulls are maintaining the pressure unabated as the week is coming to an end. EUR/USD is trading above the 1.1000 psychological level and the 200 SMA on the four-hour chart. Above those levels, buyers should remain in control. However, a daily close below the 1.1000/1.0973 support zone can reignite the longer-term bearish trend with potential further weakness towards the 1.0904 level in the medium-term horizon, according to the Technical Confluences Indicator.

Resistance: 1.1065, 1.1100, 1.1160
Support: 1.1000, 1.0973, 1.0904

Additional key levels

EUR/USD

Overview
Today last price1.1036
Today Daily Change0.0005
Today Daily Change %0.05
Today daily open1.1031
 
Trends
Daily SMA201.1061
Daily SMA501.0999
Daily SMA1001.1048
Daily SMA2001.1083
 
Levels
Previous Daily High1.1059
Previous Daily Low1.087
Previous Weekly High1.1237
Previous Weekly Low1.0638
Previous Monthly High1.1089
Previous Monthly Low1.0778
Daily Fibonacci 38.2%1.0987
Daily Fibonacci 61.8%1.0942
Daily Pivot Point S11.0915
Daily Pivot Point S21.0798
Daily Pivot Point S31.0726
Daily Pivot Point R11.1103
Daily Pivot Point R21.1175
Daily Pivot Point R31.1291

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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