EUR/USD technical analysis: Euro rolling into the Asian session below the 1.1050 level

 

 

The shared currency, on the daily chart, is trading in a bear trend below the main daily simple moving averages (DSMAs). The Euro has been in a trading range over the last two weeks as the market participants are waiting for a catalyst.

 

EUR/USD is trading in a triangle pattern between the 100 and 200 SMA, suggesting a ranging market in the medium term. Euro is ending Thursday just above the 1.1035 support. A break below this level can lead to 1.1000 and 1.0965 to the downside, according to the Technical Confluences Indicator. 

 

  

  

 

EUR/USD is entering the Asian session near its daily lows below its main SMAs. Resistances are seen at the 1.1074 and 1.1120 levels, according to the Technical Confluences Indicator.