EUR/USD technical analysis: Euro rolling into the Asian session below the 1.1051 level

 

 

The Fiber, on the daily chart, is trading in a bear trend below its main daily simple moving averages (DMAs). The Fiber, last week, after registering its worst weekly drop since August, is starting the week pulling back up, slightly.

 

 

The Euro remains under selling pressure below the main SMAs on the four-hour chart. The market is weak and a break below 1.1028 support level could open the doors to further losses towards the 1.1000 figure and the 1.0965 price level, according to the Technical Confluences Indicator. 

 

 

EUR/USD is trading below the 100 and 200 SMAs, suggesting a bearish momentum in the near term. Resistance is seen at the 1.1051 level and at the 1.1063/74 resistance zone, according to the Technical Confluences Indicator.