EUR/USD technical analysis: Euro rolling into the Asian session near the 1.1080 level

EUR/USD is ending Wednesday near the weekly lows.
The level to beat for sellers is the 1.1080 support followed by the 1.1062 level.

Flavio Tosti Independent Analyst

EUR/USD daily chart

On the daily time-frame, the single currency is trading in a bear trend below its daily simple moving averages (DSMAs). The market is down for the third day in a row.

EUR/USD 4-hour chart

The Fiber is slowly drifting lower below the main SMAs. Bears have a daily close below the 1.1080 support which is seen as bearish and opens the prospects for a move down towards 1.1062 and 1.1033 levels, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is trading below the main SMAs, suggesting a bearish momentum in the near term. Immediate resistance is seen at 1.1080, 1.1098 and 1.1117 levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1078
Today Daily Change	-0.0012
Today Daily Change %	-0.11
Today daily open	1.109

Trends
Daily SMA20	1.1133
Daily SMA50	1.1205
Daily SMA100	1.1211
Daily SMA200	1.1282

Levels
Previous Daily High	1.1116
Previous Daily Low	1.1086
Previous Weekly High	1.1154
Previous Weekly Low	1.1052
Previous Monthly High	1.1373
Previous Monthly Low	1.106
Daily Fibonacci 38.2%	1.1097
Daily Fibonacci 61.8%	1.1105
Daily Pivot Point S1	1.1078
Daily Pivot Point S2	1.1067
Daily Pivot Point S3	1.1048
Daily Pivot Point R1	1.1109
Daily Pivot Point R2	1.1128
Daily Pivot Point R3	1.114

Author

Flavio Tosti

Independent Analyst

EUR/USD looks weak below 1.1800

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GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold trims gains, slips back to around $5,170

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