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

 

 

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. 

 

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 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.