EUR/USD Price Analysis: Euro remains vulnerable below the 1.1240 level after Fed's emergency 100bps cut


  • EUR/USD consolidates last week’s losses below the 1.1240 level.
  • The level to beat for bears is the 1.1056 support. 
  • The Fed slashes interest rates to near zero in an emergency move. 
 

EUR/USD daily chart 

 
EUR/USD is consolidating last week’s decline while trading just above the main SMAs. DXY (US dollar index) remains supported despite the 100bps rate cut by the Fed.  
  

EUR/USD four-hour chart

 
EUR/USD consolidates below the 1.1240 level and the 50 SMA on the four-hour chart in a relatively quiet session this Monday. Bears want a resumption of the strong bearish move, however, they need to overcome the 1.120/1.1056 support zone. A break below the above-mentioned price zone could potentially see EUR/USD decline towards the 1.0910 level in the coming sessions. Resistance can be expected neat 1.1160, 1.1240 and 1.1288 resistance levels, according to the Technical Confluences Indicator.  
  
 
Resistance: 1.1160, 1.1240, 1.1288
Support: 1.1120, 1.1056, 1.0910
 
 

Additional key levels

EUR/USD

Overview
Today last price 1.1152
Today Daily Change 0.0051
Today Daily Change % 0.46
Today daily open 1.1101
 
Trends
Daily SMA20 1.105
Daily SMA50 1.1046
Daily SMA100 1.1069
Daily SMA200 1.11
 
Levels
Previous Daily High 1.1221
Previous Daily Low 1.1055
Previous Weekly High 1.1497
Previous Weekly Low 1.1055
Previous Monthly High 1.1089
Previous Monthly Low 1.0778
Daily Fibonacci 38.2% 1.1119
Daily Fibonacci 61.8% 1.1158
Daily Pivot Point S1 1.103
Daily Pivot Point S2 1.096
Daily Pivot Point S3 1.0864
Daily Pivot Point R1 1.1197
Daily Pivot Point R2 1.1292
Daily Pivot Point R3 1.1363

 

 

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