EUR/USD technical analysis: Fiber is under pressure near daily lows ahead of FOMC, sub-1.1130 level


  • EUR/USD drops to daily lows ahead of the FOMC. 
  • Immediate support is seen at the 1.1117 and 1.1001 levels.
 

EUR/USD daily chart

 
EUR/USD is in a bear trend below its main daily simple moving averages (DSMAs). As Fiber has been consolidating near multi-month lows for the last six days, the market is waiting for the FOMC at 18:00 GMT. The event can potentially lead to high volatility in USD-related currency pairs. The market is widely expecting a 25bps cut from the Federal Reserve.
 

EUR/USD 4-hour chart

 
EUR/USD is trading at daily lows and below its major SMAs, suggesting a bearish bias in the medium term. Sellers want to break below 1.1117 and 1.1101 on the way down, according to the Technical Confluences Indicator.
 

EUR/USD 30-minute chart

 
EUR/USD is trading below its SMAs, suggesting bearish momentum in the short term. Immediate resistance is located at 1.1130, 1.1146, and 1.1200, according to the Technical Confluences Indicator.
 

Additional key levels

EUR/USD

Overview
Today last price 1.1126
Today Daily Change -0.0032
Today Daily Change % -0.29
Today daily open 1.1158
 
Trends
Daily SMA20 1.1213
Daily SMA50 1.1241
Daily SMA100 1.1241
Daily SMA200 1.1306
Levels
Previous Daily High 1.1162
Previous Daily Low 1.1132
Previous Weekly High 1.1226
Previous Weekly Low 1.1101
Previous Monthly High 1.1414
Previous Monthly Low 1.116
Daily Fibonacci 38.2% 1.115
Daily Fibonacci 61.8% 1.1143
Daily Pivot Point S1 1.1139
Daily Pivot Point S2 1.1121
Daily Pivot Point S3 1.111
Daily Pivot Point R1 1.1169
Daily Pivot Point R2 1.118
Daily Pivot Point R3 1.1198

 

 

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