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11 Mar 2020
EUR/USD Price Analysis: Euro extends to the downside as investors anticipate US economic stimulus
- EUR/USD is correcting down sharply from the 2020 tops.
- The level to beat for bears is the 1.1258/82 support zone.
EUR/USD daily chart
EUR/USD is pulling back down from 2020 tops while trading above the main SMAs. The USD is up across the board as investors are anticipating a US economic stimulus.
EUR/USD four-hour chart
EUR/USD is retracing down while above the main SMAs. The correction could extend further on a break below the 1.1258/82 support zone and the spot could then be headed towards the 1.1235 and 1.1150 levels. Resistances can be found near the 1.1330 and 1.1365 levels, according to the Technical Confluences Indicator.
Resistance: 1.1330, 1.1365, 1.1411
Support: 1.1258/82, 1.1235, 1.1150
Additional key levels