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EUR/USD daily chart

  • EUR/USD is trading in a bear trend below its main simple moving average (SMAs).
  • EUR/USD is in a correction up from the 1.1100 level.  
  • Investors will closely be watching the US ISM Manufacturing PMI for April at 14:00 GMT followed by the much more important Federal Reserve Monetary Policy Statement at 18:00 GMT.

EUR/USD 4-hour chart

  • EUR/USD is challenging the 1.1240 resistance and the 100 SMA.  

EUR/USD 30-minute chart

  • EUR/USD is retreating slightly below 1.1230 as it   trades above its main SMAs suggesting bullish momentum in the short-term.
  • The next key resistance to the upside is seen at the 1.1270 price level.
  • Alternatively, a breach below 1.1200 can lead to a decline towards 1.1170 and 1.1140 level.

Additional key levels