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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

 

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