EUR/USD technical analysis: Euro rolling into the Asian session above the 1.1040 level

EUR/USD is ending Monday within familiar ranges.
The key level to beat for bears is the 1.1016 support level.

Flavio Tosti Independent Analyst

EUR/USD daily chart

On the daily time-frame, the single currency is trading in a bear trend below its main daily simple moving averages (DSMAs). The market has been consolidation for three days in a row.

EUR/USD four-hour chart

EUR/USD challenged the 1.1073 resistance and the 100 SMA as the buyers took control this Monday. However, the spot would need to overcome the 1.1073/1.1100 resistance zone on a daily closing basis to confirm a bullish reversal en route towards 1.1142, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The Euro is trading within the range of the last two days. The market is trading above its main SMAs, suggesting bullish momentum in the short term. However, bulls will need a daily close above 1.1073 to attract further buying interest. On the other hand, a daily close below 1.1016 would be seen as bearish. Immediate support is at 1.1040 and 1.1016. Further down lies the 1.0965 price level.

Additional key levels

EUR/USD

Overview
Today last price	1.1049
Today Daily Change	0.0020
Today Daily Change %	0.18
Today daily open	1.1029

Trends
Daily SMA20	1.1078
Daily SMA50	1.1153
Daily SMA100	1.1191
Daily SMA200	1.1269

Levels
Previous Daily High	1.1057
Previous Daily Low	1.102
Previous Weekly High	1.1085
Previous Weekly Low	1.0926
Previous Monthly High	1.1251
Previous Monthly Low	1.0962
Daily Fibonacci 38.2%	1.1034
Daily Fibonacci 61.8%	1.1043
Daily Pivot Point S1	1.1014
Daily Pivot Point S2	1.0999
Daily Pivot Point S3	1.0977
Daily Pivot Point R1	1.1051
Daily Pivot Point R2	1.1073
Daily Pivot Point R3	1.1088

Author

Flavio Tosti

Independent Analyst

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