EUR/USD technical analysis: Fiber enters the New York session printing fresh weekly lows at 1.1066

EUR/USD is trading close to weekly lows as investors anticipate more stimulus in September from the European Central Bank (ECB).
The level to beat for bears is the 1.1074 support.

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). The recent data in the US keeps the buck supported. Inflation and the Retail Sales Control Group were positive. Additionally, easing US-China trade tensions also support the Greenback. On the other hand, on Thursday ECB member Olli Rehn said the ECB stimulus package might overshoot expectations in September. The dovish comment was seen as bearish for EUR.

EUR/USD 4-hour chart

The Euro is challenging the 1.1074 support. A beak below the level could open the doors to further losses towards 1.1062 and 1.1039 levels.

EUR/USD 30-minute chart

The market is under heavy bearish pressure near the weekly lows. Immediate resistances are seen at the 1.1091 and 1.1120 levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.107
Today Daily Change	-0.0037
Today Daily Change %	-0.33
Today daily open	1.1107

Trends
Daily SMA20	1.1159
Daily SMA50	1.1233
Daily SMA100	1.1222
Daily SMA200	1.1292

Levels
Previous Daily High	1.116
Previous Daily Low	1.1092
Previous Weekly High	1.1251
Previous Weekly Low	1.1104
Previous Monthly High	1.1373
Previous Monthly Low	1.106
Daily Fibonacci 38.2%	1.1117
Daily Fibonacci 61.8%	1.1134
Daily Pivot Point S1	1.108
Daily Pivot Point S2	1.1052
Daily Pivot Point S3	1.1012
Daily Pivot Point R1	1.1147
Daily Pivot Point R2	1.1188
Daily Pivot Point R3	1.1215

Author

Flavio Tosti

Independent Analyst

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