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EUR/USD Price Analysis: Euro holds steady near 1.0900 amid mixed momentum signals

  • EUR/USD was seen around the 1.0900 zone after a mild decline on Tuesday’s session post-European hours.
  • Despite a neutral RSI and a MACD sell signal, moving averages continue to support a bullish outlook.
  • Support aligns near the 1.0888 area, while resistance emerges just below the 1.1000 zone.

The EUR/USD pair traded with a slight bearish bias on Tuesday after the European session, slipping mildly toward the 1.0900 region strugguling to hold earlier gains. Despite the setback, the pair remains within its recent range and retains an overall bullish tone thanks to favorable longer-term technical setups. The price action was contained between intraday lows near 1.0887 and highs approaching the 1.0990 area.

Daily chart

Technically, the outlook remains cautiously optimistic. The Relative Strength Index (RSI) prints a neutral 58.60, while the Moving Average Convergence Divergence (MACD) leans bearish with a sell signal. Meanwhile, other indicators such as the Commodity Channel Index (CCI) at 73.12 and the Stochastic RSI Fast at 35.32 remain neutral, showing a lack of clear directional momentum for now.

However, the strength lies in the moving averages. The 20-day SMA at 1.08646, the 100-day SMA at 1.05377, and the 200-day SMA at 1.07364 all point upward, reflecting broad underlying support. Similarly, the 10-day EMA and 10-day SMA—hovering near 1.08880 and 1.08662, respectively—offer additional short-term bullish cues.

On the downside, immediate support is seen near 1.09059, followed by 1.0888 and the 1.08662 region. Resistance appears at 1.09816, and a break above could expose the pair to further gains toward the 1.10 threshold.

Author

Patricio Martín

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

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