- EUR/USD could revisit the eight-week high at 1.0756.
- Euro could gain ground as the MACD line shows divergence above the signal line.
- A break below the psychological support at 1.0700 could push the pair to go under the region near mid-1.0600.
EUR/USD losses ground for the second successive day, trading lower near 1.0710 aligned with the psychological support level at 1.0700 during the Asian session on Tuesday.
A firm break below the latter could inspire the bears of the EUR/USD pair to navigate the support region around the mid-1.0600 and the 14-day Exponential Moving Average (EMA) at the 1.0631 level.
However, European Central Bank (ECB) President Christine Lagarde’s hawkish remarks over the weekend could provide help to the EUR/USD pair to limit the downside.
The EUR/USD pair might gain upward momentum, considering the 14-day Relative Strength Index (RSI) positioned above the 50 level. This indicates bullish momentum and reflects a bias toward a stronger market sentiment.
The Moving Average Convergence Divergence (MACD) line positions above the centerline and shows the divergence above the signal line implying a potential bullish momentum. The bulls could support the EUR/USD pair to revisit the eight-week high marked recently at 1.0756 followed by the 38.2% Fibonacci retracement at 1.0764 level.
EUR/USD: Daily Chart
EUR/USD: OTHER TECHNICAL LEVELS TO WATCH
OVERVIEW |
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Today last price | 1.071 |
Today Daily Change | -0.0010 |
Today Daily Change % | -0.09 |
Today daily open | 1.072 |
TRENDS |
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Daily SMA20 | 1.0595 |
Daily SMA50 | 1.0636 |
Daily SMA100 | 1.0805 |
Daily SMA200 | 1.0806 |
LEVELS |
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Previous Daily High | 1.0756 |
Previous Daily Low | 1.0718 |
Previous Weekly High | 1.0747 |
Previous Weekly Low | 1.0517 |
Previous Monthly High | 1.0695 |
Previous Monthly Low | 1.0448 |
Daily Fibonacci 38.2% | 1.0732 |
Daily Fibonacci 61.8% | 1.0742 |
Daily Pivot Point S1 | 1.0706 |
Daily Pivot Point S2 | 1.0693 |
Daily Pivot Point S3 | 1.0668 |
Daily Pivot Point R1 | 1.0745 |
Daily Pivot Point R2 | 1.077 |
Daily Pivot Point R3 | 1.0784 |