- EUR/USD is trading at daily lows after the ECB rate announcement and press conference.
- EUR/USD is challenging Wednesday’s low near 1.1105 level.
- The level to beat for sellers is the 1.1105/1.1092 support zone.
EUR/USD daily chart
On the daily chart, the common currency is trading in a downtrend below its 100 and 200-day simple moving averages (DMAs). Mario Draghi presided its last European Central Bank (ECB) meeting. As expected, no change in monetary policy has been made.
EUR/USD four-hour chart
The Fiber, on the four-hour chart, is trading above its main SMAs, suggesting bullish momentum in the medium term. However, the market is retracing down, approaching Wednesday’s low and the 50 SMA at 1.1105. In order to extend the correction down, sellers need to overcome the 1.1105/1.1092 support zone. A break below this area can expose the 1.1090 and 1.1065 price levels, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
The Euro is trading below its main SMAs on the 30-minute chart, suggesting bearish momentum in the near term. Resistance can be seen at the 1.1120 and 1.1135 level, followed by 1.1165, according to the Technical Confluences Indicator.
Additional key levels
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