EUR/USD remains weak and hits fresh daily lows, still above 1.1400

Euro among worst performers of the last hours while greenback posts mix results.
US Data: Decline in consumer confidence, and home prices rise less than expected.
In Europe, UK Parliament will vote on Brexit while in the US the FOMC meeting is underway.

Matías Salord FXStreet

The negative tone for EUR/USD remains in place as it holds near session lows, looking at 1.1400. It recently printed a fresh daily low at 1.1410.

Earlier today the pair reached weekly highs at 1.1450 but then started a bearish correction. Still, EUR/USD is moving in a small range amid a cautious mood across financial markets. The US dollar is posting mix results.

Traders await the outcome today of the Brexit vote at the UK Parliament and also tomorrow’s FOMC statement. The Fed started today it's 2-day meeting. No change in monetary policy is expected, but a shift to a more dovish approach is seen.

In the US data released today showed a decline in the CB Consumer Confidence Index to 120.2 in January from 126.6 while the S&P/Case-Shiller Home Price Index rose 4.7% from a year ago.

EUR/USD levels to watch

To the downside, the immediate support is the 1.1400 level followed by 1.1380 (10-day moving average) and 1.1350 (Jan 18 & 23 low). On the upside, resistance could be seen at 1.1430 (20-hour moving average), followed by 1.1450 (Jan 29 high) and 1.1480.

EUR/USD

Overview:
    Today Last Price: 1.1416
    Today Daily change: -0.0012 pips
    Today Daily change %: -0.11%
    Today Daily Open: 1.1428
Trends:
    Daily SMA20: 1.1417
    Daily SMA50: 1.139
    Daily SMA100: 1.1449
    Daily SMA200: 1.1575
Levels:
    Previous Daily High: 1.1446
    Previous Daily Low: 1.139
    Previous Weekly High: 1.1418
    Previous Weekly Low: 1.1289
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Daily Fibonacci 38.2%: 1.1424
    Daily Fibonacci 61.8%: 1.1411
    Daily Pivot Point S1: 1.1397
    Daily Pivot Point S2: 1.1366
    Daily Pivot Point S3: 1.1342
    Daily Pivot Point R1: 1.1452
    Daily Pivot Point R2: 1.1477
    Daily Pivot Point R3: 1.1508

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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