EUR/USD Technical Analysis: Corrective bounce challenges weekly highs near 1.1040 level

EUR/USD is picking up steam in the second half of the week.
The correction can extend to the 1.1055/75 resistance zone.

Flavio Tosti Independent Analyst

EUR/USD daily chart

The Euro, on the daily chart, is trading in a bear trend below the 100 and 200 daily simple moving averages (DMAs). This Friday the market is correcting to the upside challenging the weekly high and the 50 DMA.

EUR/USD four-hour chart

The Fiber is correcting as its broke above the 50 SMA and is likely en route towards the 1.1055/75 resistance zone near the 200 SMA.

EUR/USD 30-minute chart

EUR/USD is trading above its main SMAs on the 30-minute chart, suggesting bullish momentum in the near term. Support is seen at the 1.1020 and 1.0995 price levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1044
Today Daily Change	0.0023
Today Daily Change %	0.21
Today daily open	1.1021

Trends
Daily SMA20	1.1092
Daily SMA50	1.1041
Daily SMA100	1.1101
Daily SMA200	1.1181

Levels
Previous Daily High	1.1029
Previous Daily Low	1.0989
Previous Weekly High	1.1176
Previous Weekly Low	1.1016
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1013
Daily Fibonacci 61.8%	1.1004
Daily Pivot Point S1	1.0997
Daily Pivot Point S2	1.0974
Daily Pivot Point S3	1.0958
Daily Pivot Point R1	1.1037
Daily Pivot Point R2	1.1052
Daily Pivot Point R3	1.1076

Author

Flavio Tosti

Independent Analyst

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