EUR/USD technical analysis: Fiber rolling into the Asian session below the 1.1000 handle

EUR/USD weakened on Monday as European PMIs disappointed.
Europen Central Bank’s (ECB) President, Mario Draghi, reiterates that the ECB is ready to act.
The level to beat for bears is the 1.0965 support level.

Flavio Tosti Independent Analyst

EUR/USD daily chart

On the daily chart, the common currency is trading in a downtrend below the main daily simple moving averages (DSMAs). In the European session, the Markit PMI in the Eurozone, Germany and France came in below expectations while in the New York session, ECB’s President, Mario Draghi, reiterated that the ECB is ready to act.

EUR/USD four-hour chart

EUR/USD is trading below its main SMAs, suggesting a bearish momentum in the medium term. The Fiber is retracing while staying below the 1.1000 figure. A break below the 1.0965 support (current Monday low) can expose 1.0940 (near the 2019 low) and 1.0887 price level, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is rolling into the Asian session below the 1.1000 figure and its main SMAs, suggesting bearish momentum in the near term. The 1.1000 figure is currently capping any upside attempt. However, a break of 1.1000 can expose the 1.1023/35 resistance zone and the 1.1075 price level, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.0992
Today Daily Change	-0.0026
Today Daily Change %	-0.24
Today daily open	1.1018

Trends
Daily SMA20	1.1039
Daily SMA50	1.111
Daily SMA100	1.1176
Daily SMA200	1.1253

Levels
Previous Daily High	1.1068
Previous Daily Low	1.0996
Previous Weekly High	1.1084
Previous Weekly Low	1.099
Previous Monthly High	1.1251
Previous Monthly Low	1.0962
Daily Fibonacci 38.2%	1.1024
Daily Fibonacci 61.8%	1.104
Daily Pivot Point S1	1.0987
Daily Pivot Point S2	1.0956
Daily Pivot Point S3	1.0916
Daily Pivot Point R1	1.1059
Daily Pivot Point R2	1.1099
Daily Pivot Point R3	1.113

Author

Flavio Tosti

Independent Analyst

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