- EUR/USD is holding to intraday gains after the London close.
- The level to beat for buyers is the 1.1151 resistance.
EUR/USD daily chart
The euro challenged the 200-day simple moving average (DMA) on the first day of the week. The bulls want a daily close above the 200 DMA. However, this hasn’t happened since June this year.
EUR/USD four-hour chart
The market formed a head-and-shoulders pattern which can potentially be bearish. However, if the spot manages to conclusively break the 1.1151 level, the pattern is probably going to be invalidated as buyers would likely target the 1.1186 and 1.1220 levels. However, on the flip side, a break below the 1.1104 support can generate weakness towards the 1.1062 and 1.1027 price levels, according to the Technical Confluences Indicator.
Additional key levels
