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2 Oct 2019
EUR/USD technical analysis: Euro pressuring weekly highs as ADP disappoints
- EUR/USD is trading near the weekly highs above the 1.0900 figure.
- The level to beat for bulls is the 1.0940 resistance.
- The ADP disappoints and weighs on the Greenback.
EUR/USD daily chart
The common currency, on the daily chart, is trading in a downtrend below the main daily simple moving averages (DSMAs). This Wednesday, the ADP which is the forerunner of the Nonfarm Payrolls on Friday disappointed with 135k vs. 140k expected in September.
EUR/USD four-hour chart
EUR/USD is trading below the main SMAs, suggesting bearish momentum in the medium term. However, a break beyond 1.0940 can expose the 1.0960/85 resistance zone, according to the Technical Confluences Indicator.
EUR/USD 30-minute chart
EUR/USD is trading above the main SMAs, suggesting bullish momentum in the near term. Immediate support is seen at the 1.0908 level followed by 1.0910 and 1.0890 level, according to the Technical Confluences Indicator.
Additional key levels