EUR/USD: ???????? ??? 1.1050
Forex News

Euro bounces from session’s lows, nearing 1.1065 level

  • EUR/USD retracement up challenges the 1.1060 resistance and the 100 SMA on the four-hour chart.
  • The next levels of resistance are seen near 1.1100 and 1.1163.

 

EUR/USD daily chart 

 

EUR/USD bounced sharply from the 2020 lows while challenging the main SMAs on the four-hour chart. This Friday the correction up seems to decelerate near the 200 SMA on the daily chart and below the 1.1100 figure.  

 

EUR/USD four-hour chart

 

EUR/USD bulls are maintaining the pressure unabated as the week is coming to an end. EUR/UDS is trading above the 1.1000 psychological level and the 200 SMA on the four-hour chart. Above those levels, buyers should remain in control. However, a daily close below the 1.1000/1.0973 support zone can reignite the longer-term bearish trend with potential further weakness towards the 1.0904 level in the medium-term horizon, according to the Technical Confluences Indicator.

 

 

Resistance: 1.1065, 1.1100, 1.1160

Support: 1.1000, 1.0973, 1.0904

 

 

Additional key levels

 

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