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EUR/USD eyes 1.0890

EURUSD_eyes-next-downside-target_Forex_FXPIG

EUR/USD has been on the back foot as the US dollar stormed the board. As it nears the 2019 low of 1.0926, it is time to look at the next downside targets.

The Technical Confluences Indicator is showing that EUR/USD has some support at 1.0941, which is the meeting point of the Pivot Point one-week Support 2 and the previous daily low.

If the world's most popular currency pair slips to lower ground, the next support line is 1.0890, which is the convergence of the PP 1m-S1, the PP 1d-S2, and the PP 1w-S3.

Noteworthy resistance awaits at 1.0992, which is the confluence of the Fibonacci 61.8% one-day, the Bollinger Band 1h-Upper, the BB 4h-Middle, and the previous weekly low.

A considerable cap awaits at 1.1032, where we see several substantial liens converge – the Fibonacci 38.2% one-week, the Simple Moving Average 100-4h, and the Fibonacci 23.6% one-month.

Source: fxstreet

EUR/USD has been on the back foot as the US dollar stormed the board. As it nears the 2019 low of 1.0926, it is time to look at the next downside targets.

The Technical Confluences Indicator is showing that EUR/USD has some support at 1.0941, which is the meeting point of the Pivot Point one-week Support 2 and the previous daily low.

If the world's most popular currency pair slips to lower ground, the next support line is 1.0890, which is the convergence of the PP 1m-S1, the PP 1d-S2, and the PP 1w-S3.

Noteworthy resistance awaits at 1.0992, which is the confluence of the Fibonacci 61.8% one-day, the Bollinger Band 1h-Upper, the BB 4h-Middle, and the previous weekly low.

A considerable cap awaits at 1.1032, where we see several substantial liens converge – the Fibonacci 38.2% one-week, the Simple Moving Average 100-4h, and the Fibonacci 23.6% one-month.

Source: fxstreet

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