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  • EUR/USD is starting the year by a retracement below the 1.1200 handle.
  • The market is rolling into Asia above the 1.1166/1.1150 price zone. 

EUR/USD weekly chart

EUR/USD is kicking off 2020 by trading near five-month highs and the 50-period weekly simple moving average. The spot could be trying to form a base above the 1.1000 handle. However, since the volatility has been so low in the last quarter, the market remains mainly in a range, with both parties taking the lead alternatively.

EUR/USD daily chart

The market is retracing down while trading above the main SMAs. The market is rejecting the 1.1200 handle and a trendline.

EUR/USD four-hour chart

The euro is weakening while trading above the main SMAs on the four-hour chart. Bulls want to keep the market above the 1.1166/1.1150 price zone to avoid an extension of the retracement towards the 1.1096 and 1.1072 price levels. Resistances are seen at the 1.1224/1.1248 price zone, 1.1271, 1.1306 and 1.1341 levels, according to the Technical Confluences Indicator. 

Additional key levels