Feb 25, 2020
EUR/USD Asia Price Forecast: Euro bouncing from multi-year lows, approaching 1.0900 figure
- EUR/USD is reversing up while bouncing from 34-month lows.
- The level to beat for bulls is the 1.0883 resistance.
EUR/USD daily chart
EUR/USD is trading in a downtrend below its main daily simple moving averages (SMAs) as the quote is correcting up from 34-month lows. EUR/USD is also challenging the 2019 low at the 1.0879 level.
EUR/USD four-hour chart
The euro broke below a bear channel in early February and is now bouncing up from the 1.0800 figure. Buyers are ending the day near 1.0883 resistance. A break beyond the above-mentioned level should generate extra gains towards 1.0923 and 1.0985 levels. Support is seen near and 1.0800 and 1.0754 price levels, according to the Technical Confluences Indicator.
Resistance: 1.0883, 1.0923, 1.0985
Support: 1.0800, 1.0754 1.0660
Additional key levels