- EUR/USD stays on the front foot, recently inactive, near seven-week top.
- 100-day SMA tests the upside break of the key resistance line, now support.
- Bullish MACD, sustained trading above 200-day SMA favor buyers.
EUR/USD buyers catch a breather around 1.2040, after rising the most in two weeks, during Tuesday’s Asian session. In doing so, the quote keeps the previous day’s upside break of a descending trend line from January 06, also staying above the 200-day SMA, amid the bullish MACD signals.
However, 100-day SMA around 1.2060 tests the major currency pair’s latest run-up, a break of which will highlight March’s top of 1.2133 and late January peak surrounding 1.2190 for the EUR/USD bulls.
Given the strong MACD signals and the quote’s ability to trade successfully beyond 200-day SMA, EUR/USD prices are likely to remain firm before hitting February’s top near 1.2245.
Alternatively, pullback moves below the immediate support line, previous resistance, surrounding 1.2015 will recall the mid-March tops near 1.1990 to the chart.
However, EUR/USD sellers are less expected to take fresh entries until witnessing a daily closing below the 200-day SMA level of 1.1920.
EUR/USD daily chart
Additional important levels
|Today last price||1.2039|
|Today Daily Change||54 pips|
|Today Daily Change %||0.45%|
|Today daily open||1.1985|
|Previous Daily High||1.1995|
|Previous Daily Low||1.195|
|Previous Weekly High||1.1995|
|Previous Weekly Low||1.1871|
|Previous Monthly High||1.2113|
|Previous Monthly Low||1.1704|
|Daily Fibonacci 38.2%||1.1978|
|Daily Fibonacci 61.8%||1.1967|
|Daily Pivot Point S1||1.1959|
|Daily Pivot Point S2||1.1933|
|Daily Pivot Point S3||1.1915|
|Daily Pivot Point R1||1.2003|
|Daily Pivot Point R2||1.2021|
|Daily Pivot Point R3||1.2047|
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