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  • EUR/USD is trading just above the 1.1020 level as the New York session comes to an end.
  • The key level to beat for bears is the 1.0996 support.

EUR/USD daily chart

On the daily chart, the euro/dollar currency pair is trading in a downtrend below its main daily simple moving averages (DMAs). This Tuesday, the market climbed above the 1.1020 resistance.  


EUR/USD four-hour chart

The market is correcting the recent losses above the November lows while staying under selling pressure below its main SMAs.  
The key support to break for sellers is likely located near the 1.0996 level near the current monthly low. If bears can break this level, the market could decline towards the 1.0969 and 1.0910 price levels, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is trading above the 1.1020 resistance and the 50/100 SMAs, suggesting that the market is correcting up. A daily close above the 1.1035/1.1049 resistance zone could question the bear case in the near term.

Additional key levels