EUR/USD technical analysis: Euro approaching the October highs post-Fed


  • The Euro is nearing monthly highs after the Fed cut interest rates.
  • The level to beat for buyers is the 1.1165 resistance.
 

EUR/USD daily chart

 
On the daily chart, the Fiber is trading in a bear trend below its 200-day simple moving average (DMAs). The Fed cut interest rates by 25 bps as widely expected, but Fed’s Chair Powell failed to impress the market during its speech sending USD down and EUR/USD up. 
 

EUR/USD four-hour chart

 
The Fiber, on the four-hour chart, is trading above its main SMAs as it is nearing the October highs.The market broke above the 1.1150 resistance. The level to beat for buyers is now 1.1165 resistance. A break above it can lead the spot to 1.1181/1.1193, 1.1220, according to the Technical Confluences Indicator.
 
 

EUR/USD 30-minute chart

 
EUR/USD is trading above the main SMAs on the 30-minute chart, suggesting a bullish bias in the near term. Support is seen at the 1.1150, 1.1133 and 1.1113/20 price level.
 
 

Additional key levels

EUR/USD

Overview
Today last price 1.1154
Today Daily Change 0.0042
Today Daily Change % 0.38
Today daily open 1.1112
 
Trends
Daily SMA20 1.1055
Daily SMA50 1.1037
Daily SMA100 1.1128
Daily SMA200 1.1201
 
Levels
Previous Daily High 1.112
Previous Daily Low 1.1074
Previous Weekly High 1.1063
Previous Weekly Low 1.0941
Previous Monthly High 1.111
Previous Monthly Low 1.0885
Daily Fibonacci 38.2% 1.1102
Daily Fibonacci 61.8% 1.1091
Daily Pivot Point S1 1.1084
Daily Pivot Point S2 1.1056
Daily Pivot Point S3 1.1038
Daily Pivot Point R1 1.113
Daily Pivot Point R2 1.1148
Daily Pivot Point R3 1.1176

 

 

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