EUR/USD Price Analysis: Hovers around 1.0830 after paring intraday gains

EUR/USD could find immediate resistance around the major level at 1.0850.
Technical analysis suggests that the pair could move toward psychological support at 1.0800.
The break above the 14-day EMA at 1.0877 could lead the pair to approach the psychological barrier at 1.0900.

Akhtar Faruqui FXStreet

EUR/USD hovers around 1.0830 during the Asian session on Tuesday after trimming its intraday gains. The EUR/USD pair grapples to recover the losses registered in the previous session. The significant level at 1.0850 may act as immediate resistance for the EUR/USD pair.

A successful breakthrough above the latter could potentially propel the pair toward the 23.6% Fibonacci retracement level at 1.0889, followed by the 14-day Exponential Moving Average (EMA) at 1.0877. A breakthrough above the resistance zone could propel the EUR/USD pair to explore the region around the psychological barrier at 1.0900 level.

The 14-day Relative Strength Index (RSI) for the EUR/USD pair is situated below the 50 mark, signaling a bearish momentum in the market. In addition, the Moving Average Convergence Divergence (MACD), which is a lagging indicator, suggests a potential confirmation of a downward trend. This is indicated by the MACD line being positioned below the centerline and the signal line.

The EUR/USD pair could find immediate support at the psychological level at 1.0800 aligned with the monthly low at 1.0795. A decisive break below the monthly low could strengthen the bearish sentiment to navigate the region around the major support at the 1.0750 level.

EUR/USD: Daily Chart

EUR/USD: additional technical levels

Overview
Today last price	1.0833
Today Daily Change	0.0002
Today Daily Change %	0.02
Today daily open	1.0831

Trends
Daily SMA20	1.0907
Daily SMA50	1.0918
Daily SMA100	1.0778
Daily SMA200	1.0843

Levels
Previous Daily High	1.0853
Previous Daily Low	1.0796
Previous Weekly High	1.0932
Previous Weekly Low	1.0813
Previous Monthly High	1.114
Previous Monthly Low	1.0724
Daily Fibonacci 38.2%	1.0818
Daily Fibonacci 61.8%	1.0831
Daily Pivot Point S1	1.0801
Daily Pivot Point S2	1.077
Daily Pivot Point S3	1.0744
Daily Pivot Point R1	1.0857
Daily Pivot Point R2	1.0884
Daily Pivot Point R3	1.0914

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

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