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20 Dec 2019
EUR/USD Price Analysis: Euro rolling into Asia near 1.1130 level
- EUR/USD remains vulnerable below the 1.1179/1.1200 resistance zone and the 200 DMA.
- The level to beat for sellers is the 1.1104 support.
EUR/USD daily chart
The market has entered a range below the 1.1179/1.1200 resistance zone and the 200-day simple moving average (DMA).
EUR/USD four-hour chart
The head-and-shoulders pattern has halted the bullish advance as sellers are challenging the 1.1127 level and the 50 SMA on the four-hour chart. A breakdown below the 1.1104 support can lead to further weakness towards 1.1080, 1.1057 and 1.1028 levels, according to the Technical Confluences Indicator. Meanwhile, resistance is seen at 1.1127, 1.1149 and 1.1179/1.1200 price zone.
Additional key levels