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8 Apr 2020

EUR/USD Price Analysis: Euro on track to end session in the red, trades below 1.0900 figure

  • EUR/USD rebound is losing steam as the market is retracing down from the 1.0900 figure.
  • The level to beat for bears is the 1.0840 support. 
 

EUR/USD daily chart 

 
EUR/USD is rebounding from the 1.0800 figure while trading below its main SMA (simple moving average) on the daily chart. 
 

EUR/USD four-hour chart

 
EUR/USD is consolidating the last bear leg started in late March as the spot is trading below the main SMAs suggesting a negative bias in the medium term. Bears are looking for a break below the 1.0840 level while resistnce can be seen near 1.0916 and 1.0965 levels according to the Technical Confluences indicator.  
 
 
Resistance: 1.0916, 1.0965, 1.1000
Support: 1.0840, 1.0780, 1.0735
 

 

Additional key levels

 

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