Forex News

Euro gets Friday bounce, ends the week near 1.0870 level

  • EUR/USD bounces on Friday and remains confined within range. 
  • Immediate resistance can emerge near 1.0845 and 1.0920 levels. 

  

EUR/USD daily chart 

 

EUR/USD is trading below the main SMAs on the daily chart as the spot rebounds modestly before reaching the 1.0800 figure.  

 

EUR/USD four-hour chart

 

The fiber is trading below the main SMAs on the four-hour chart suggesting a bearish bias in the medium term. However, the quote bounced near the 1.0800 figure and challenged the 1.0884 resistance. A daily close above the mentioned level can yield further strength towards the 1.0920 and 1.0970 resistance levels, according to the Technical Confluences Indicator. On the flip side, immediate support can be expected near the 1.0845 and 1.0820 levels

 

 

Resistance: 1.0884, 1.0920, 1.0970

Support: 1.0845, 1.0820, 1.0800

 

 

Additional key levels

 

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