EUR/USD on a steady recovery path, back at 1.0450


The EUR/USD pair found just below 10-DMA support, and from there takes on another attempt higher, in a bid to regain 5-DMA barrier located at 1.0449.

EUR/USD: 1.0500 back on sight?

Currently, EUR/USD trades -0.10% lower at 1.0444, recovering from session lows struck earlier at 1.0433. The bulls appear to have fought back control, allowing a tepid bounce in the EUR/USD pair in response to fresh USD selling.

The US dollar ran through fresh offers against a basket of six major currencies after the US treasury yields surrendered a part of intraday gains seen so far this session. However, it remains to be seen whether the spot can sustain the recovery and break above the key resistance placed at 1.0460 ahead of the US datasets lined up for release later today.

In the meantime, the major will continue to get influenced by the broader market sentiment and USD price-action amid low volumes and minimal volatility.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.0459 (daily high). A break beyond the last, doors will open for a test of 1.0474 (daily R1) and from there to 1.0500 (round figure). On the flip side, the immediate support is placed at 1.0418 (dally S2) below which 1.0383 (Dec 21 low) and 1.0352 (yearly/ 14-yr lows) could be tested.

1 Week
Avg Forecast 1.0436
100.0%75.0%50.0%045505560657075808590951001050
  • 50% Bullish
  • 25% Bearish
  • 25% Sideways
Bias Bullish
1 Month
Avg Forecast 1.0356
100.0%73.0%18.0%01020304050607080901000
  • 18% Bullish
  • 55% Bearish
  • 27% Sideways
Bias Bearish
1 Quarter
Avg Forecast 1.0291
0.0%100.0%24.0%0-1001020304050607080901001100
  • 24% Bullish
  • 76% Bearish
  • 0% Sideways
Bias Bearish

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD: Next stop emerges at 0.6580

AUD/USD: Next stop emerges at 0.6580

The downward bias around AUD/USD remained unabated for yet another day, motivating spot to flirt with the area of four-week lows well south of the key 0.6700 region.

AUD/USD News

EUR/USD looks cautious near 1.0900 ahead of key data

EUR/USD looks cautious near 1.0900 ahead of key data

The humble advance in EUR/USD was enough to partially leave behind two consecutive sessions of marked losses, although a convincing surpass of the 1.0900 barrier was still elusive.

EUR/USD News

Gold extends slide below $2,400

Gold extends slide below $2,400

Gold stays under persistent bearish pressure after breaking below the key $2,400 level and trades at its lowest level in over a week below $2,390. In the absence of fundamental drivers, technical developments seem to be causing XAU/USD to stretch lower.

Gold News

Why this week could be explosive for Ethereum

Why this week could be explosive for Ethereum

Ethereum (ETH) is down nearly 1% on Monday as exchanges have begun confirming Tuesday as the launch date for ETH ETFs. Considering the ETH ETF launch and the upcoming Bitcoin Conference, this week could prove crucial for Ethereum.

Read more

What now for the Democrats?

What now for the Democrats?

Like many, I applaud Biden’s decision.  I would have preferred that he’d made it sooner, but there’s still plenty of time for the Democrats to run a successful campaign. In fact, I wish something on the order of a two-month campaign – as opposed to a two-year campaign – were the norm and not the exception. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures