EUR/USD technical analysis: Euro rolling into the Asian session below the 1.1050 level

EUR/USD is ending its fourth day of consolidation.
The key level to beat for sellers is the 1.1020 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 the main daily simple moving averages (DSMAs). This Tuesday, the market has been consolidating for the fourth consecutive day ahead of Wednesday’s Producer Price Index in the United States and most importantly the European Central Bank (ECB) meeting taking place on Thursday.

EUR/USD four-hour chart

EUR/USD is in a range between the 1.1020 and 1.1073 price level. The Euro is trading below the descending 100 and 200 SMAs, suggesting bearish momentum in the medium term. Bears will be looking for a break of the 1.1020 support to potentially drive the market south 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 very tight range as the spot spent most of the day between the SMAs. In order to attract further buying interest, the bulls would need a daily close above 1.1073 resistance.

Additional key levels

EUR/USD

Overview
Today last price	1.1043
Today Daily Change	-0.0004
Today Daily Change %	-0.04
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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