EUR/USD technical analysis: Euro flatlined below the 1.1073 resistance ahead of ECB on Thursday

EUR/USD is trading in the 1.1020/1.1073 range ahead of the European Central Bank (ECB) meeting on Thursday.
The key level to beat for bears is the 1.1020 support level.

Flavio Tosti Independent Analyst

EUR/USD daily chart

On the daily time-frame, the common currency is trading in a bear trend below its main daily simple moving averages (DSMAs). The market is consolidating for its fourth consecutive day ahead of Thursday’s European Central Bank (ECB) meeting.

EUR/USD four-hour chart

EUR/USD keeps consolidating last week’s run-up in the 1.1020/1.1073 range. The Fiber is trading below the downward sloping 100 and 200 SMAs, suggesting bearish momentum in the medium term. Sellers will be looking for a break below 1.1020 support to potentially drive the market towards 1.0990 and 1.0964 price levels, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is trading in a tight range as it has spent most of the day between its SMAs. All-in-all suggesting a sideways market in the short term. Buyers would likely need a daily close above 1.1073 to attract further buying interest.

Additional key levels

EUR/USD

Overview
Today last price	1.1037
Today Daily Change	-0.0010
Today Daily Change %	-0.09
Today daily open	1.1047

Trends
Daily SMA20	1.107
Daily SMA50	1.1148
Daily SMA100	1.1189
Daily SMA200	1.1268

Levels
Previous Daily High	1.1068
Previous Daily Low	1.1016
Previous Weekly High	1.1085
Previous Weekly Low	1.0926
Previous Monthly High	1.1251
Previous Monthly Low	1.0962
Daily Fibonacci 38.2%	1.1048
Daily Fibonacci 61.8%	1.1036
Daily Pivot Point S1	1.1019
Daily Pivot Point S2	1.0991
Daily Pivot Point S3	1.0967
Daily Pivot Point R1	1.1072
Daily Pivot Point R2	1.1096
Daily Pivot Point R3	1.1124

Author

Flavio Tosti

Independent Analyst

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