23 Apr 2020
EUR/USD Price Analysis: Euro bounces from fresh April lows, trade back above 1.0800 figure
- EUR/USD reversed intraday course in the early New York session, trading now above the 1.0800 figure.
- EUR/USD bear trend remains intact below the 1.0900 figure.
EUR/USD daily chart
Euro/Dollar is trading below its main SMAs on the daily chart as the quote is bouncing after establishing fresh April’s lows at the 1.0756 level.
EUR/USD four-hour chart
EUR/USD is trading below the 1.0850 resistance and the main SMAs on the four-hour chart suggesting a negative bias in the medium term. The euro got a reaction up in the New York session but bears should remain in control of the market at this stage. The spot looks set to retest the 1.0800 figure en route towards the 1.0750 and 1.0717 levels, according to the Technical Confluences Indicator. Resistance is expected to emerge near 1.0850 and 1.0900/25 price zone.
Resistance: 1.0850, 1.0900, 1.0925
Support: 1.0800, 1.0750, 1.0717
Additional key levels