EUR/USD technical analysis: Fiber trading below 1.1000 in the New York session

 

 

 

On the daily chart, the shared currency is trading in a downtrend below its main daily simple moving averages (DSMAs). In the European session, the German IFO came above expectation, but without any firework on the EUR. 

 

EUR/USD is trading below its main SMAs, suggesting a bearish bias in the medium term. To the downside, a break of the 1.0965 support (current weekly low) can expose 1.0940 (near the 2019 low) and 1.0887 price level, according to the Technical Confluences Indicator. 

 

  

  

 

The Fiber is challenging the 1.1000 figure and the 100 SMA, suggesting a consolidation in the near term. A daily close above 1.1000 can expose the 1.1023/35 resistance zone and the 1.1075 price level, according to the Technical Confluences Indicator.