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17 Mar 2020
EUR/USD Price Analysis: Euro on track to record the largest daily decline since June 2018
- EUR/USD is pressuring the 1.0970 support level on broad-based USD demand.
- EUR/USD is trading at two-week’s lows and on track to register its worst daily since June 2018.
EUR/USD daily chart
EUR/USD is trading at its lowest in two weeks while trading below the main SMAs. DXY (US dollar index) shot to the upside while dragging EUR/USD down on track to its worst daily decline since June 2018.
EUR/USD four-hour chart
EUR/USD is pressuring 1.0970 support while trading below the main SMAs. A break below the above-mentioned level should lead to further weakness towards the 1.0885 and 1.0850 levels. Resistance can be seen near 1.1016, 1.1073 and 1.1100 levels, according to the Technical Confluences Indicator.
Resistance: 1.1016, 1.1073, 1.1100
Support: 1.0970, 1.0885, 1.0850
Additional key levels