EUR/USD Technical Analysis: Flashing red in Asia, bearish divergence on 1H


  • EUR/USD's hourly chart shows a bearish divergence of a key indicator. 
  • A close above 1.1097 is needed to confirm a breakout on the daily chart. 

EUR/USD is currently trading at 1.1079, representing marginal losses on the day, having clocked a high of 1.1094 in the overnight trade.

The pullback could be extended further to support at 1.1060 as the hourly chart is reporting a bearish divergence of the relative strength index (RSI)

The 4-hour chart RSI is also rolling over from the overbought levels, signaling scope for a pullback. The indicator, however, is reporting bullish conditions with an above-50 print on the daily chart.

That said, a close above the Nov. 21 high of 1.1097 is needed to confirm a double bottom breakout on the daily chart and open the doors for 1.12.

Hourly chart

Trend: Pullback likely

Technical levels

EUR/USD

Overview
Today last price 1.1077
Today Daily Change -0.0004
Today Daily Change % -0.04
Today daily open 1.1081
 
Trends
Daily SMA20 1.104
Daily SMA50 1.1044
Daily SMA100 1.1073
Daily SMA200 1.1163
 
Levels
Previous Daily High 1.1094
Previous Daily Low 1.1066
Previous Weekly High 1.1034
Previous Weekly Low 1.0981
Previous Monthly High 1.1176
Previous Monthly Low 1.0981
Daily Fibonacci 38.2% 1.1077
Daily Fibonacci 61.8% 1.1083
Daily Pivot Point S1 1.1066
Daily Pivot Point S2 1.1051
Daily Pivot Point S3 1.1037
Daily Pivot Point R1 1.1095
Daily Pivot Point R2 1.1109
Daily Pivot Point R3 1.1124

 

 

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