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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. 
 
 

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 price1.0992
Today Daily Change-0.0026
Today Daily Change %-0.24
Today daily open1.1018
 
Trends
Daily SMA201.1039
Daily SMA501.111
Daily SMA1001.1176
Daily SMA2001.1253
 
Levels
Previous Daily High1.1068
Previous Daily Low1.0996
Previous Weekly High1.1084
Previous Weekly Low1.099
Previous Monthly High1.1251
Previous Monthly Low1.0962
Daily Fibonacci 38.2%1.1024
Daily Fibonacci 61.8%1.104
Daily Pivot Point S11.0987
Daily Pivot Point S21.0956
Daily Pivot Point S31.0916
Daily Pivot Point R11.1059
Daily Pivot Point R21.1099
Daily Pivot Point R31.113

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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