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10 Jan 2020
EUR/USD Price Analysis: Euro rolling into Asia below 1.1129 resistance
- EUR/USD is under bearish pressure below 1.1129/1.1142 price zone.
- The level to beat for sellers is the 1.1094/1.1071 support zone.
EUR/USD daily chart
The market is retracing back down below the 200-day simple moving average (SMA) as the spot is easing from the December 2019 tops.
EUR/USD four-hour chart
EUR/USD broke below the 1.1142/1.1129 price zone and is now settling below the 200 SMA on the four-hour chart. As the market remains under pressure, sellers will likely try to break below the 1.1094/1.1071 support zone. If the bears gather enough momentum, they could target the 1.1000 handle. Resistances are seen near the 1.1129/1.1142 price zone, 1.1160 and 1.1187 price level, according to the Technical Confluences Indicator.
Additional key levels