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7 Jan 2020
EUR/USD Price Analysis: Euro drops to session’s lows near 1.1140 level
- The euro is under pressure below the 1.1187 resistance.
- The level to beat for sellers is the 1.1142/1.1129 support zone.
EUR/USD daily chart
The market is consolidating just above the 200-day simple moving average while retracing the end of December bullish spike.
EUR/USD four-hour chart
EUR/USD is near its lowest since the start of the new month while trading below the 50 and 100 SMAs on the four-hour chart. Sellers will likely try to breach the 1.1142/1.1129 support zone to drive the price towards 1.1094 and 1.1071 price levels. Resistances are seen near 1.1160 and 1.1187 levels. A break above the latter could lead to a bullish break to the 1.1245 resistance, according to the Technical Confluences Indicator.
Additional key levels