EUR/USD technical analysis: Euro advancing near 1.1260 ahead of FOMC minutes

• EUR/USD is gaining momentum as the market breaks to new weekly highs.
• Investors will be focusing on the FOMC minutes at 18.00 GMT.

EUR/USD daily chart

EUR/USD trading in a bear trend below its 200-day simple moving averages (DSMA). The market is now testing the 1.1260 level and the 100 DSMA.

EUR/USD 4-hour chart

EUR/USD is recovering from the weekly lows as the market is approaching 1.1270 resistance and the 200 SMA. The next main resistance is seen at 1.1320 according to the Technical Confluences Indicator.

EUR/USD 30-minute chart

EUR/USD is advancing above 1.1245 and the main SMAs suggesting bullish momentum in the near term. Supports can be seen near 1.1245 and the 1.1220 levels, according to the Technical Confluences Indicator.

Additional key levels