OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD technical analysis: Fiber enters the New York session below the 1.1200 handle

  • EUR/USD is trading within a small daily range at the start of the New York session. 
  • The key level to beat for bears is the 1.1160 support. 
 

EUR/USD daily chart

 
EUR/USD is keeping the range theme intact for the seventh consecutive days. On the daily time-frame, the common currency is capped by the 1.1220/55 resistances as well as the 50/100-day simple moving averages (DSMAs). 
 

EUR/USD 4-hour chart

 
EUR/USD is ranging between the 1.1255 resistance and the 1.1160 support while the market is trading below a downward sloping 200 SMA and below a rising 50 SMA. Bears will need to break below the 1.1173 support and most importantly below 1.1160 to confirm a bearish bias in the medium term. 
  
 

EUR/USD 30-minute chart

 
The market is trading below its main SMAs, suggesting a bearish bias in the near term. Immediate resistances are seen at 1.1200 and 1.1220, according to the Technical Confluences Indicator. 
 
 

Additional key levels

 

 

USD/TRY lost upside momentum above 5.6100

The Turkish Lira has regained the downside on Wednesday after USD/TRY closed Tuesday’s session slightly in the negative ground and in levels coinciden
Read more Previous

US Dollar Index meets support near 97.70

The Greenback, when tracked by the US Dollar Index (DXY), has faded the earlier spike to the area above 97.80 and has now receded to the 97.70 region.
Read more Next
Start livechat