EUR/USD technical analysis: Euro pressuring three-week lows, challenging the 1.1028 support

 

 

The Euro, on the daily chart, is trading in a downtrend below its main daily simple moving averages (DMAs). The market is trading at three-week lows at the start of the New York session. 

 

 

Fiber is trading below its main SMAs on the four-hour chart suggesting bearish momentum in the medium term. Bears are pressuring the 1.1028 support level. A break below can to trigger further weakness towards the 1.1000 figure and to the 1.0965 price level if the sellers gather enough steam, according to the Technical Confluences Indicator. 

 

 

EUR/USD is under pressure below its main SMAs, suggesting bearish momentum in the near term. The 1.1051 level should act as resistance as well as the 1.1063/74 resistance zone, according to the Technical Confluences Indicator.