EUR/USD Price Analysis: Closing on 1.10 support, bulls need a close above Tuesday's high

  • EUR/USD is struggling to post a bullish follow-through to Tuesday's hammer candle. 
  • A move above Tuesday's high is needed to revive the immediate bullish case. 

EUR/USD is closing on the psychological support of 1.10, having faced rejection near 1.1040 in early Asia. 

The pair created a long-tailed hammer candle on Tuesday, indicating seller exhaustion or dip demand near 1.0930. So far, however, the bullish follow-through has remained elusive. The pair is currently reporting a 0.15% loss on the day. 

A move above Tuesday's high of 1.1053 would validate or confirm the seller exhaustion signaled by Tuesday's candle and shift risk in favor of a break above the March 27 high of 1.1148. 

The outlook will remain neutral as long as the pair is trading within Tuesday's range of 1.0927-1.1053. Acceptance under 1.0927 would imply a continuation of the pullback from the recent high of 1.1148 and open the doors to support at 1.0778 (Feb. 20 low). 

Daily chart

Trend: Neutral

Technical levels


Today last price 1.1015
Today Daily Change -0.0018
Today Daily Change % -0.16
Today daily open 1.1033
Daily SMA20 1.1055
Daily SMA50 1.0998
Daily SMA100 1.105
Daily SMA200 1.1079
Previous Daily High 1.1055
Previous Daily Low 1.0927
Previous Weekly High 1.1147
Previous Weekly Low 1.0636
Previous Monthly High 1.1497
Previous Monthly Low 1.0636
Daily Fibonacci 38.2% 1.0976
Daily Fibonacci 61.8% 1.1006
Daily Pivot Point S1 1.0955
Daily Pivot Point S2 1.0877
Daily Pivot Point S3 1.0827
Daily Pivot Point R1 1.1083
Daily Pivot Point R2 1.1133
Daily Pivot Point R3 1.1211



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