EUR/USD analysis: bears in control in thin holiday activity
AUD/USD clings to 0.7150 as markets enjoy extended weekend
The AUD/USD pair trades near 0.7150 during early Asian sessions on Monday. The pair carried its Good Friday gains forward as lack of data and major market closure, except Japan, China and Singapore, due to Easter Monday confined trade sentiment.
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EUR/USD is trading in a narrow range around 1.1300 as the long Easter weekend approaches. The pair enjoys substantial support. Can it rally?
The Technical Confluences Indicator shows that the round number of 1.1300 is a dense cluster of lines including the Simple Moving Average 5-1h, the Fibonacci 61.8% one-day, the SMA 10-15m, the SMA 10-1h, the SMA 10-4h, the SMA 50-1h, the SMA 5-4h, the SMA 50-1d, the Bollinger Band 1h-Middle, and more.
More significant support awaits at 1.1282 where we see the convergence of the previous daily low, the Fibonacci 38.2% one-month, the SMA 200-1h, the Fibonacci 38.2% one-week, the BB 4h-Lower, and the SMA 5-1d.
The initial upside target is 1.1347 where the Fibonacci 61.8% one-month, the Pivot Point one-week R1, the BB 1d-Upper, and the SMA 100-1d.
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