EUR/USD price analysis: Euro rolling into Asia pressuring the 1.1103 resistance

 

 

EUR/USD, on the daily chart, is trading in a downtrend below the 200-day simple moving average (DMA). However, since the start of December, the market is spiking up to the 1.1103 resistance.

 

 

EUR/USD is painfully challenging the 1.1103 resistance. Even though the spot is moving in slow motion, the buyers are in charge for the time being. A break of 1.1103 could lead to the 1.1138 level, where some resistance can be expected. Further up lie the 1.1161/78 resistance zone, according to the Technical Confluences Indicator.  

     

 

The euro continues to grind up while trading above the main SMAs. Support can be seen at the 1.1063, 1.1040 and 1.1011 price levels, according to the Technical Confluences Indicator.