EUR/USD technical analysis: Euro rolling into the Asian session near the 1.1072 level

  • EUR/USD broke above the 1.1033 resistance and is now challenging the 1.1072 level.
  • There is more volatility in store as the market is waiting for the FOMC on Wednesday.

EUR/USD daily chart

The shared currency, on the daily chart, is trading in a bear trend below the main daily simple moving averages (DSMAs). Market participants will shift their attention to the FOMC on Wednesday. 

EUR/USD four-hour chart

The market is challenging the 1.1072 resistance. If the market breaks this level of resistance, the next resistance can be seen at 1.1113 and 1.1147, according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD almost erased the Monday’s losses as the market is trading back above the main SMAs. The market is trading within a broader range with little directional bias. The FOMC on Wednesday might give investors more information. Support is seen at the 1.1033 and the 1.1000 figure. 

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