• EUR/USD breakout following the ECB press conference. 
  • The level to beat for buyers is the 1.0972 resistance.  

EUR/USD daily chart 

Euro/Dollar is trading in a downtrend below its main SMAs on the daily chart, however, the spot is bounced sharply and tested the 1.0950 level along with the 50 SMA on the daily chart. The break higher happened after the ECB press conference although month-end flows can also be the reason behind the move, according to analysts. 

EUR/USD four-hour chart

EUR/USD broke beyond the 1.0884/1.0900 resistance zone and hit the 1.0972 resistance while trading above its main SMAs on the four-hour chart. The strong up move opens the gates to further gains towards the 1.1040 level. Support is expected to emerge near 1.0884/1.0900 turning support and the 1.0845 levels. 
Resistance: 1.0941/1.0972, 1.1040
Support: 1.0884/1.0900, 1.0845,  

Additional key levels