EUR/USD: Heading towards 1.1000

EUR/USD is trading around the 38.2% retracement of its latest daily decline at 1.0960. Valeria Bednarik, a Chief Analyst at FXStreet, examines the technical picture of the EUR/USD pair.

Key quotes

“The 4-hour chart shows that the price met sellers around its 200 SMA, while the 20 SMA heads sharply higher below the current level.”

“Technical indicators, in the meantime, advance within positive levels, favouring additional advances, should the pair manage to clear the current area. Pullbacks need to be contained by buyers around 1.0920 to keep the bullish case alive.”

“Support levels: 1.0920 1.0885 Resistance levels: 1.1015 1.1060”