• EUR/USD rises for the third consecutive day, around intraday high of late.
  • 13-day-old horizontal area, also comprising 50-SMA and monthly resistance line challenge further upside.
  • Bullish MACD signals join weekly support line to keep buyers hopeful.

EUR/USD grinds higher around daily top during the third positive daily performance from a five-year low. In doing so, the major currency pair rises towards a short-term key resistance area. That said, the quote takes rounds to 1.0445-50 by the press time of Tuesday’s Asian session.

That said, the pair’s latest rebound could be linked to the firmer MACD signals and a three-day-long rising support line, near 1.0410 at the latest.

However, a convergence of the 50-SMA, descending trend line from April 21 and a two-week-long horizontal region challenge the EUR/USD upside moves around 1.0480-90.

In a case where EUR/USD rises past the 1.0490 hurdle, the 1.0500 threshold could challenge the run-up towards the monthly high near 1.0640.

Meanwhile, pullback moves can test the immediate support line, near 1.0410, before directing EUR/USD prices towards the 1.0350-40 support area including multiple lows marked since 2017.

Should EUR/USD prices remain weak past 1.0340, a downward trajectory towards the 1.0300 and the 1.0200 thresholds becomes imminent.

EUR/USD: Four-hour chart

Trend: Further upside expected

Additional important levels

Today last price 1.0444
Today Daily Change 0.0007
Today Daily Change % 0.07%
Today daily open 1.0437
Daily SMA20 1.059
Daily SMA50 1.0813
Daily SMA100 1.1056
Daily SMA200 1.1309
Previous Daily High 1.0443
Previous Daily Low 1.0389
Previous Weekly High 1.0592
Previous Weekly Low 1.035
Previous Monthly High 1.1076
Previous Monthly Low 1.0471
Daily Fibonacci 38.2% 1.0423
Daily Fibonacci 61.8% 1.041
Daily Pivot Point S1 1.0403
Daily Pivot Point S2 1.0369
Daily Pivot Point S3 1.0349
Daily Pivot Point R1 1.0457
Daily Pivot Point R2 1.0477
Daily Pivot Point R3 1.0511



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