EUR/USD Asia Price Forecast: Euro capped by 1.0841 resistance vs. US dollar

  

 

Euro/Dollar is trading below its main daily SMAs as the spot remains under selling pressure despite the mild bounce seen at the end of last week. 

 

 

 

EUR/USD is rejecting the 1.0841 resistance while trading below the main SMAs on the four-hour chart as the bearish bias remains firmly in place. The level to beat for sellers is seen near the 1.0800 figure. A break of which would lead to further selling likely sending the quote lower in the vicinities of the 1.0750 and 1.0714 support levels. On the flip side, resistance is seen near 1.0841, 1.0900 and 1.0965 levels, according to the Technical Confluences Indicator.