EUR/USD retreats from the weekly high of 1.0789, which was recorded on Monday, snapping a four-day winning streak.
EUR/USD could approach the major support at 1.0750 following February’s low at 1.0694. The resistance zone could be found around the 21-day EMA at 1.0798 and the 23.6% Fibonacci retracement at 1.0799. Traders may await the lagging indicator MACD to confirm a directional trend.
EUR/USD retreats from the weekly high of 1.0789, which was recorded on Monday, snapping a four-day winning streak. The pair trades lower around 1.0770 during the Asian hours on Tuesday with positioning above the immediate support at the psychological level of 1.0750. A break below the latter could put weight on the EUR/USD pair to navigate the further support region around the psychological level of 1.0700, in conjunction with February’s low at 1.0694, which was observed on February 14. The EUR/USD pair could find the key resistance zone around the 21-day Exponential Moving Average at 1.0798 lined up with the 23.6% Fibonacci retracement at 1.0799 and the psychological level of 1.0800. A firm breakthrough above the resistance zone could exert upward support on the EUR/USD pair to explore the further major barrier at 1.0850, to revisit February’s high at 1.0897 aligned with the psychological level of 1.0900. The technical analysis of the EUR/USD pair suggests a mixed outlook in the market. The 14-day Relative Strength Index is below the 50 mark, indicating a bearish momentum. However, the lagging indicator Moving Average Convergence Divergence , although still below the centerline, is above the signal line, suggesting a tepid momentum in the market. Given these conflicting signals, market participants may choose to await further confirmation from the MACD indicator on the directional trend for the EUR/USD pair. EUR/USD: Daily Chart EUR/USD: other technical levels to watch Overview Today last price 1.0768 Today Daily Change -0.0011 Today Daily Change % -0.10 Today daily open 1.0779 Trends Daily SMA20 1.0797 Daily SMA50 1.0891 Daily SMA100 1.08 Daily SMA200 1.0827 Levels Previous Daily High 1.079 Previous Daily Low 1.0762 Previous Weekly High 1.0806 Previous Weekly Low 1.0695 Previous Monthly High 1.1046 Previous Monthly Low 1.0795 Daily Fibonacci 38.2% 1.0779 Daily Fibonacci 61.8% 1.0773 Daily Pivot Point S1 1.0765 Daily Pivot Point S2 1.075 Daily Pivot Point S3 1.0737 Daily Pivot Point R1 1.0792 Daily Pivot Point R2 1.0804 Daily Pivot Point R3 1.0819
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