EUR/USD technical analysis: Bullish reversal confirmed, eyes hurdle at 1.1064

EUR/USD confirmed a bullish reversal with a 0.57% rise on Wednesday.
The Aug. 22 low of 1.1064 could come into play during the day ahead.

Omkar Godbole FXStreet Contributor

EUR/USD closed 0.57% higher on Wednesday, confirming the bearish-to-bullish trend change signaled by the preceding day's Dragonfly Doji.

The pair has also found acceptance above the Aug. 1 low of 1.1027. So, the next key resistance at 1.1064 (Aug. 22 low) could be put to test during the day ahead.

The bullish candlestick setup on the daily chart would be invalidated if the spot drops below Wednesday's low of 1.0968, although, as of writing, that looks unlikely.

As of writing, the pair is flat-lined around 1.1034.

Daily chart

Trend: Bullish

Technical levels

EUR/USD

Overview
Today last price	1.1034
Today Daily Change	-0.0002
Today Daily Change %	-0.02
Today daily open	1.1036

Trends
Daily SMA20	1.1094
Daily SMA50	1.1167
Daily SMA100	1.1195
Daily SMA200	1.1272

Levels
Previous Daily High	1.104
Previous Daily Low	1.0969
Previous Weekly High	1.1164
Previous Weekly Low	1.0962
Previous Monthly High	1.1251
Previous Monthly Low	1.0962
Daily Fibonacci 38.2%	1.1012
Daily Fibonacci 61.8%	1.0996
Daily Pivot Point S1	1.099
Daily Pivot Point S2	1.0944
Daily Pivot Point S3	1.0919
Daily Pivot Point R1	1.1061
Daily Pivot Point R2	1.1086
Daily Pivot Point R3	1.1132

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

AUD/USD: Next upside target comes at 0.7000

AUD/USD has advanced further, clinching its third consecutive day of gains and trading at shouting distance from the key 0.7000 threshold on Tuesday. The widespread improved sentiment in the risk complex helped the Aussie maintain its upside momentum, while the fresh selling impulse in the Greenback also contributed to the move.

USD/JPY rises back above 158.00 despite hawkish BoJ outlook

USD/JPY rises back above 158.00 in the early European morning on Tuesday. The pair strengthens as the Japanese Yen fails to find any inspiration from hawkish BoJ expectations and looming intervention risks. Meanwhile, geopolitical uncertainty and elevated US bond yields keep the US Dollar near its YTD high despite receding October Fed hike bets. This, in turn, helps the pair stay supported.

Gold stays firm; looks at $4,200

Gold builds on Monday’s marginal bounce, although it struggles to reclaim the key $4,200 mark per troy ounce so far on Tuesday. The yellow metal’s advance comes on the back of the fresh downside momentum in the US Dollar in tandem with retreating US Treasury yields across the curve.

Ethena Price Forecast: ENA corrects as Ether.Fi launches stablecoin on the protocol

Ethena (ENA) trades near $0.24000 on Tuesday amid growing technical weakness. The Ethereum Layer-2 token has shed some of its recent gains, which peaked at $0.2946 on September 27, reinforcing profit-taking and buyer exhaustion. An extended sell-off would bring ENA to test the psychological support at $0.2000 and key technical levels further down.

Japanese Yen nears 158.00: Two analysts agree it's bullish, and disagree on how far the breakout goes

The JPY is drifting near 158.00 against the USD ahead of a busy week of Japanese data and a still-unclear BoJ timetable. The two most recent FXStreet analyses agree on the direction, but they disagree on the target and the mechanism.

Eurozone inflation just hit 3.8%, its highest in three years. This chart shows why the ECB can’t simply hike its way out

The ECB would normally have a relatively straightforward answer to inflation running almost twice its target: raise interest rates. But these are not normal circumstances. This time, the bond market is already doing part of the tightening for it, leaving the ECB facing an increasingly difficult dilemma.