EUR/USD technical analysis: Euro hangs at three-week highs after US CPI and ECB


  • EUR/USD is hanging at three-week highs at the start of the New York session. 
  • The US Core Consumer Price Index (CPI) met expectations at 2.4% YoY. 
  • In Europe, the European Central Bank’s (ECB) minutes showed opposition to QE. 
 
 
 

EUR/USD daily chart

 
 
On the daily chart, the shared currency is trading in a bear trend below the main daily simple moving averages (DSMAs). Earlier in Europe, the European Central Bank’s (ECB) minutes showed opposition to QE sending EUR/USD above the 1.1000 figure. In the New York session, the US Core Consumer Price Index (CPI) met expectations at 2.4% YoY. 
 
 
 

EUR/USD four-hour chart

 
EUR/USD broke above the 1.1000 figure and hit the 1.1025 resistance while trading above its main SMAs. If the market holds above the 1.1000/1.1025 zone, a run to 1.1080 can be on the cards, according to the Technical Confluences Indicator. 
 

EUR/USD 30-minute chart

 
 
EUR/USD is trading above its main SMAs, suggesting bullish momentum in the near term. Support is seen at the 1.1000 and 1.0976 support level. A daily close below the 1.1000 figure would alleviate the short term bullish bias.
 

Additional key levels 

EUR/USD

Overview
Today last price 1.1023
Today Daily Change 0.0039
Today Daily Change % 0.36
Today daily open 1.0984
 
Trends
Daily SMA20 1.0989
Daily SMA50 1.1053
Daily SMA100 1.1146
Daily SMA200 1.1225
 
Levels
Previous Daily High 1.099
Previous Daily Low 1.0955
Previous Weekly High 1.1
Previous Weekly Low 1.0879
Previous Monthly High 1.111
Previous Monthly Low 1.0885
Daily Fibonacci 38.2% 1.0977
Daily Fibonacci 61.8% 1.0968
Daily Pivot Point S1 1.0963
Daily Pivot Point S2 1.0941
Daily Pivot Point S3 1.0927
Daily Pivot Point R1 1.0998
Daily Pivot Point R2 1.1012
Daily Pivot Point R3 1.1033

 

 

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