- EUR/USD is consolidating last week’s advance near the 1.1000 figure.
- EUR/USD is on track to have a second consecutive bearish day.
EUR/USD daily chart
EUR/USD is retreating down from last week’s high as the spot is consolidating near the 1.1000 figure and the 50 DMA (daily simple moving average) as DXY is stabilizing. Quarter-end flows are for now benefitting USD.
EUR/USD four-hour chart
The euro is consolidating last week’s bullish run near the 1.1000 psychological level and the 200 SMA on the four-hour chart. The market is weakneing and a daily close below the 1.1000/1.0972 can point to further declines towards the 1.0880 level, according to the Technical Confluences Indicator. Resistance is seen near the 1.1046, 1.1091 and 1.1130 levels.
Resistance: 1.1046, 1.1091, 1.1130
Support: 1.1000, 1.0972, 1.0880
Additional key levels