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30 Oct 2019
EUR/USD technical analysis: Euro rolling into the Asian session above the 1.1100 level
- The Euro is about to end Tuesday near daily highs above the 1.1100 figure.
- The level to beat for buyers is the 1.1120 resistance in the near term.
- Market players will focus on the Fed Interest Rate Decision on Wednesday.
EUR/USD daily chart
On the daily chart, the Fiber is trading in a downtrend below its 100 and 200-day simple moving averages (DMAs). The major macroeconomic event of the week is likely going to be the Fed Interest Rate Decision on Wednesday.
EUR/USD four-hour chart
The Fiber, on the four-hour chart, is trading above the 100 and 200 SMAs. This Tuesday, the market challenged the 1.1113/20 resistance zone as well as the 50 SMA. A break above the mentioned resistance zone can lead to further strength towards 1.1135/50 and 1.1165 resistance levels, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
The EUR/USD is trading above the main SMAs on the 30-minute chart, suggesting a bullish bias in the near term. The level to beat for bulls is the 1.1120 resistance. If breached, 1.1165 might become a key target on the way up. Support is seen at 1.1092 and 1.1069 price levels.
Additional key levels