The common currency is recovering from multi-month lows on broad-based USD weakness. The level to beat for buyers is at the 1.1042 resistance level. EUR/USD daily chart On the daily time-frame, the shared currency is trading in a bear trend below the main daily simple moving averages (DSMAs). On Tuesday, the United States ISM Manufacturing PMI dropped to three-year low at 49.1. The data triggered broad-based USD weakness. Earlier in the London session, European Central Bank’s (ECB) nominated President Christine Lagarde made dovish comments regarding the monetary policy. However, the Euro didn’t have any bearish reaction. EUR/USD four-hour chart EUR/USD is trying to settle above the 1.1020 support level as the market is trading below the main SMAs. Bears will need to reclaim the 1.1020, 1.0997 and 1.0968 levels if they intend to resume the bear trend, according to the Technical Confluences Indicator. EUR/USD 30-minute chart EUR/USD is trading above the 1.1020 support level and the main SMAs, suggesting a correction up in the near term. If bulls overcome the 1.1042 resistance, the market could continue climbing towards 1.1073 resistances and potentially to the 1.1100 figure, according to the Technical Confluences Indicator. Additional key levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Fed’s Beige Book: Majority of businesses remained optimistic about near-term outlook FX Street 4 years The common currency is recovering from multi-month lows on broad-based USD weakness. The level to beat for buyers is at the 1.1042 resistance level. EUR/USD daily chart On the daily time-frame, the shared currency is trading in a bear trend below the main daily simple moving averages (DSMAs). On Tuesday, the United States ISM Manufacturing PMI dropped to three-year low at 49.1. The data triggered broad-based USD weakness. Earlier in the London session, European Central Bank's (ECB) nominated President Christine Lagarde made dovish comments regarding the monetary policy. However, the Euro didn't have any bearish reaction. EUR/USD… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
