• EUR/USD adds to Friday’s gains beyond 1.0400.
  • Bulls could push the pair to the 1.0640 area.

EUR/USD’s rebound gathers further traction north of the 1.0400 mark on Monday.

Considering the pair’s ongoing price action and oversold condition (as per the daily RSI), it seems to be extra room for the continuation of the rebound in the very near term at least. Against that, the next hurdle emerges at the weekly high at 1.0641 (May 5). In light of the underlying bearish view of the pair, further upside should be deemed as selling opportunities.

Below the 3-month line around 1.0900, the pair is expected to remain under pressure and vulnerable to extra losses.

EUR/USD daily chart

EUR/USD

Overview
Today last price 1.0417
Today Daily Change 49
Today Daily Change % 0.04
Today daily open 1.0413
 
Trends
Daily SMA20 1.0607
Daily SMA50 1.0822
Daily SMA100 1.1065
Daily SMA200 1.1315
 
Levels
Previous Daily High 1.042
Previous Daily Low 1.035
Previous Weekly High 1.0592
Previous Weekly Low 1.035
Previous Monthly High 1.1076
Previous Monthly Low 1.0471
Daily Fibonacci 38.2% 1.0393
Daily Fibonacci 61.8% 1.0376
Daily Pivot Point S1 1.0368
Daily Pivot Point S2 1.0324
Daily Pivot Point S3 1.0298
Daily Pivot Point R1 1.0438
Daily Pivot Point R2 1.0464
Daily Pivot Point R3 1.0508

 

 

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