EUR/USD Asia Price Forecast: Euro advances to 6-day’s highs, challenges 1.1060 level

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  • EUR/USD retracement up challenges the 1.1060 resistance and the 100 SMA on the four-hour chart.
  • The next levels of resistance are seen near 1.1100 and 1.1163.
 

EUR/USD daily chart 

 
EUR/USD bounces sharply from the 2020 lows while challenging the 100 SMA on the four-hour chart. This Thursday the correction up accelerated and broke above the 1.1000 psychological level. 
 

EUR/USD four-hour chart

 
EUR/USD is challenging the 1.1060 resistance and the 100 SMA on the four-hour chart. As the market gained considerable momentum the spot could continue to trade higher towards the 1.1100 and 1.1163 price levels in the medium term while support can be expected near the 1.1014, 1.0980 and 1.0900 levels, according to the Technical Confluences Indicator.
 
 
Resistance: 1.1060, 1.1100, 1.1163
Support: 1.1014, 1.0980, 1.0900
 
 

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