EUR/USD Price Analysis: Hovers around the major level of 1.0850

EUR/USD could meet the immediate resistance at the 38.2% Fibonacci retracement level of 1.0864.
The lagging indicator MACD implies a potential shift towards bullish momentum for the pair.
The key support area appears around the 21-day EMA at 1.0814 and the psychological level of 1.0800.

Akhtar Faruqui FXStreet

EUR/USD continues its winning streak that began on February 14, with the subdued US Dollar (USD), potentially influenced by the lower US Treasury yields. Consequently, during Tuesday's Asian session, the EUR/USD pair hovers around 1.0850.

Immediate resistance levels for the EUR/USD pair are identified at the 38.2% Fibonacci retracement level of 1.0864, followed by February's high of 1.0897, which aligns with the significant psychological barrier at 1.0900.

The technical analysis suggests a bullish sentiment for the EUR/USD pair. The 14-day Relative Strength Index (RSI) is positioned above the 50 mark, indicating strength in the upward momentum.

Additionally, the Moving Average Convergence Divergence (MACD) shows a divergence above the signal line, despite being below the centerline. This lagging indicator implies a potential shift towards bullish momentum for the EUR/USD pair.

On the downside, the EUR/USD pair could find the key support around the 21-day Exponential Moving Average (EMA) at 1.0814 followed by the psychological support of 1.0800 level. A break below this level could prompt the pair to retest February’s low at 1.0694 level.

EUR/USD: Daily Chart

EUR/USD

Overview
Today last price	1.0852
Today Daily Change	0.0001
Today Daily Change %	0.01
Today daily open	1.0851

Trends
Daily SMA20	1.0791
Daily SMA50	1.0884
Daily SMA100	1.0815
Daily SMA200	1.0828

Levels
Previous Daily High	1.086
Previous Daily Low	1.0813
Previous Weekly High	1.0888
Previous Weekly Low	1.0762
Previous Monthly High	1.1046
Previous Monthly Low	1.0795
Daily Fibonacci 38.2%	1.0842
Daily Fibonacci 61.8%	1.0831
Daily Pivot Point S1	1.0822
Daily Pivot Point S2	1.0794
Daily Pivot Point S3	1.0775
Daily Pivot Point R1	1.0869
Daily Pivot Point R2	1.0888
Daily Pivot Point R3	1.0917

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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