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9 Oct 2019
EUR/USD technical analysis: Euro back into the range near 1.0980 ahead of FOMC Minutes
- EUR/USD is back into familiar ranges below the 1.1000 handle.
- The level to beat for bears is the 1.0940 support, followed by the 1.0910 level.
- The FOMC Minutes are scheduled at 18:00 GMT.
EUR/USD daily chart
On the daily chart, the shared currency is trading in a bear trend below the main daily simple moving averages (DSMAs). The Greenback lost momentum in the European session. The FOMC Minutes scheduled at 18:00 GMT can lead to volatility.
EUR/USD four-hour chart
EUR/USD is back into the 1.0960/1.0985 range while trading below the 100 SMA on the four-hour chart. A retest of the 1.0960/40 support remains on the cards as long as the market stays contained below the 1.1000 handle, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is off the daily highs, currently finding no acceptance above the 1.0985 resistance. A daily close above the 1.1000 figure would be needed to neutralise the downside bias.
Additional key levels