EUR/USD Price Analysis: 100-HMA, weekly trendline in focus

EUR/USD extends Friday’s pullback moves, stays above near-term key support.
Sluggish MACD suggests a lack of momentum.
200-HMA offers additional support after a downside break below the support confluence.

Anil Panchal FXStreet

EUR/USD nears the short-term support confluence including 100-HMA and the weekly support line while taking rounds to 1.1015 amid early Tuesday’s trading. That said, the pair recently dropped, from 1.1030 to 1.0983, in a flash crash amid broad US dollar strength but failed to extend the losses and bounced afterward.

Even so, sluggish MACD and the pair’s pullback from multi-day top keep sellers hopeful.

Though, a clear break below 1.0980/75 becomes necessary for the pair’s drop towards March 24 high near 1.0890 and 200-HMA level of 1.0870.

On the upside, 1.1090 and the Friday’s top near 1.1150 could keep the near-term advances guarded.

EUR/USD hourly chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	1.1011
Today Daily Change	-36 pips
Today Daily Change %	-0.33%
Today daily open	1.1047

Trends
Daily SMA20	1.1062
Daily SMA50	1.0999
Daily SMA100	1.1049
Daily SMA200	1.108

Levels
Previous Daily High	1.1144
Previous Daily Low	1.101
Previous Weekly High	1.1147
Previous Weekly Low	1.0636
Previous Monthly High	1.1089
Previous Monthly Low	1.0778
Daily Fibonacci 38.2%	1.1061
Daily Fibonacci 61.8%	1.1093
Daily Pivot Point S1	1.099
Daily Pivot Point S2	1.0933
Daily Pivot Point S3	1.0856
Daily Pivot Point R1	1.1124
Daily Pivot Point R2	1.1201
Daily Pivot Point R3	1.1258

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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