18 Mar 2020
EUR/USD Asia Price Forecast: Euro remains vulnerable, corrects up near 1.0910 level
- EUR/USD is correcting after a massive drop in the last days.
- The level to beat for bears is the 1.0852 support.
EUR/USD daily chart
EUR/USD almost reached the 2020 low at 1.0777 this Wednesday as the market hit 1.0801 intraday on broad-based USD strength.
EUR/USD four-hour chart
The spot is rebounding slightly from the 1.0800 figure, however, the bearish pressure should remain unabated especially below the 1.0942/76 resistance zone and the 1.1050 level near the 200 SMA. Bears are looking for a break below the 1.0852 level which would introduce scope for a move down to the 1.0783 and 1.0700 price levels according to the Technical Confluences Indicator.
Resistance: 1.0942, 1.0976, 1.1050
Support: 1.0852, 1.0783, 1.0700
Additional key levels