EUR/USD technical analysis: Euro easing from three-week highs, trading sub-1.1025 level

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  • EUR/USD is easing from three-week highs in the New York session. 
  • The US Core Consumer Price Index (CPI) matched analysts’ expectations at 2.4% YoY. 
  • Earlier in Europe, the European Central Bank’s (ECB) minutes showed opposition to QE, sending EUR/USD above the 1.1000 figure.
 
 
 

EUR/USD daily chart

 
 
On the daily chart, the common currency is trading in a bear trend below the main daily simple moving averages (DSMAs). Earlier in Europe, the European Central Bank’s (ECB) minutes showed opposition to QE sending EUR/USD above the 1.1000 figure while in the New York session, the US Core Consumer Price Index (CPI) came out at 2.4% YoY matching forecasts.
 
 
 

EUR/USD four-hour chart

 
EUR/USD is correcting slightly below 1.1025 resistance. The market is trading above its main SMAs, suggesting bullish momentum in the medium term. If the market holds above the 1.1000/1.1025 zone, the market can attempt to reach the 1.1080 on the way up, according to the Technical Confluences Indicator. 
 

EUR/USD 30-minute chart

 
 
EUR/USD is trading above the main SMAs, suggesting bullish momentum in the near term. Support can be seen at the 1.1000 and 1.0976 support level. A daily close below the 1.1000 figure would alleviate the short term bullish bias.
 

Additional key levels 

 

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