EUR/USD technical analysis: Intraday bounce challenges the 1.1000 figure

EUR/USD starts the week on the back foot as European PMIs disappoint.
The level to beat for bears is the 1.0965 support level.
Europen Central Bank’s (ECB) President, Mario Draghi reminds the market that the ECB is ready to act.

Flavio Tosti Independent Analyst

EUR/USD daily chart

On the daily chart, the shared currency is trading in a downtrend below its main daily simple moving averages (DSMAs). Earlier in the European session, the Markit PMI in the Eurozone, Germany and France came in below expectations sending the Euro down. In the New York session, Europen Central Bank’s President, Mario Draghi reiterated that the ECB is ready to act.

EUR/USD four-hour chart

EUR/USD is trading below the main SMAs, suggesting a bearish bias in the medium term. The Fiber is in consolidation mode below the 1.1000 figure. Sellers want a break below the 1.0965 support (current Monday low) to hit 1.0940 (near the 2019 low) and 1.0887, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is trading below its main SMAs, suggesting bearish momentum in the near term. The market is challenging the 1.1000 figure, which might be holding bullish attacks. However, in case the market breaks above the level, the 1.1023/35 resistance zone and the 1.1075 price level can come into play, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2437
Today Daily Change	-0.0033
Today Daily Change %	-0.26
Today daily open	1.247

Trends
Daily SMA20	1.2317
Daily SMA50	1.2276
Daily SMA100	1.2489
Daily SMA200	1.2738

Levels
Previous Daily High	1.2583
Previous Daily Low	1.2459
Previous Weekly High	1.2583
Previous Weekly Low	1.2393
Previous Monthly High	1.231
Previous Monthly Low	1.2015
Daily Fibonacci 38.2%	1.2506
Daily Fibonacci 61.8%	1.2535
Daily Pivot Point S1	1.2425
Daily Pivot Point S2	1.238
Daily Pivot Point S3	1.2302
Daily Pivot Point R1	1.2549
Daily Pivot Point R2	1.2628
Daily Pivot Point R3	1.2673

Author

Flavio Tosti

Independent Analyst

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