13 Apr 2020
EUR/USD Price Analysis: Euro starts the week on the back foot, trades sub-1.0950 level
- EUR/USD is starting the week mixed although marginally lower.
- Immediate support can emerge near 1.0887 level.
EUR/USD daily chart
EUR/USD is trading below the main SMAs on the daily chart while the market is consolidating the latest bear leg to the 1.0800 figure.
EUR/USD four-hour chart
The fiber consolidates below the 200 SMA suggesting a bearish bias in the medium term. However, the spot keeps grinding up above the 1.0900 handle and the 50/100 SMAs while capped for now below the 1.0932 resistance. Further up lie the 1.0977 and 1.1012 resistance levels. Bears would be looking for a daily close below the 1.0887 support level in order to gather traction towards the 1.0841 and 1.0800 price levels, according to the Technical Confluences Indicator.
Resistance: 1.0932, 1.0977, 1.1012
Support: 1.0887, 1.0841, 1.0800
Additional key levels