EUR/USD technical analysis: Euro is on the rise, approaching the 1.1072 level.

EUR/USD broke above the 1.1033 resistance and is now nearing the 1.1072 level.
There is more volatility ahead as the market is going to watch the FOMC on Wednesday.

Flavio Tosti Independent Analyst

EUR/USD daily chart

The shared currency, on the daily chart, is trading in a bear trend below the main daily simple moving averages (DSMAs). It has been reported that Saudi Arabia’s oil output should return to normal faster than anticipated. This improved improved the market sentiment and sent USD down and EUR/USD up.

EUR/USD four-hour chart

The Fiber is rising sharply above the 1.1033 resistance and the 50/100 SMAs. The market is approaching the 1.1072 resistance. If the market break this level of resistance, the next level is seen at 1.1113, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD almost reversed the Monday’s losses as the market trades above the main SMAs. The market is trading within a broader range with little clarity for any directional bias. The FOMC on Wednesday might give traders clues on that front.

Additional key levels

EUR/USD

Overview
Today last price	1.1063
Today Daily Change	0.0060
Today Daily Change %	0.55
Today daily open	1.1003

Trends
Daily SMA20	1.1051
Daily SMA50	1.1127
Daily SMA100	1.1183
Daily SMA200	1.1259

Levels
Previous Daily High	1.1084
Previous Daily Low	1.0993
Previous Weekly High	1.111
Previous Weekly Low	1.0927
Previous Monthly High	1.1251
Previous Monthly Low	1.0962
Daily Fibonacci 38.2%	1.1028
Daily Fibonacci 61.8%	1.105
Daily Pivot Point S1	1.097
Daily Pivot Point S2	1.0936
Daily Pivot Point S3	1.0878
Daily Pivot Point R1	1.1061
Daily Pivot Point R2	1.1118
Daily Pivot Point R3	1.1152

Author

Flavio Tosti

Independent Analyst

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