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  • EUR/USD is under pressure in the New York session trading at its lowest since last Friday.  
  • The level to beat for bears is the 1.1000 handle.  

EUR/USD daily chart

On the daily chart, the common currency is trading in a bear trend below its main simple moving averages (DSMAs). However, last week, the Fiber broke above a multi-week trendline. Earlier in the Europen session, the German Zew survey came better-than-expected at -22.8 vs -27 for October.

EUR/USD four-hour chart

The Euro is trading above the main SMAs, suggesting bullish momentum in the medium term. EUR/USD is consolidating last week’s gains above the 1.1000 figure and the 200 SMA. The 1.1025 resistance is the level to beat for bulls if they intend to reach the 1.1067 resistance on the way up, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

The Fiber is under pressure below its main SMAs. However, a daily close below the 1.1000 handle would be a stronger confirmation that the short term bias might have switched to bearish.

Additional key levels