EUR/USD Price Analysis: Moves below 1.0900, next support at nine-day EMA

EUR/USD loses ground as US Dollar attempts to rebound.
Technical indicators suggest revisiting the major level at 1.0950 near the three-month high.
The nine-day EMA at 1.0867 could act as the key support followed by the major level at 1.0850.

Akhtar Faruqui FXStreet

EUR/USD retraces the recent gains, trading below the psychological barrier at the 1.0900 level during the Asian session on Friday. The weakening of the Euro could be attributed to the improved US Dollar (USD). The Greenback recovers on the back of improved US Treasury yields.

The nine-day Exponential Moving Average (EMA) at 1.0867 appears to be the key support level aligned with the next major level at 1.0850. and the 23.6% Fibonacci retracement at 1.0842. A decisive break below the support region could push the EUR/USD pair to navigate the psychological level at 1.0800.

The technical indicators for the EUR/USD pair support the current upward trend. The 14-day Relative Strength Index (RSI) above 50 indicates bullish sentiment, indicating that the pair could revisit the major level at 1.0950, nearing the three-month high at 1.0965 level. A breakthrough above the latter could support the bulls of the EUR/USD pair to navigate the resistance area around the 1.1000 psychological level.

Furthermore, the Moving Average Convergence Divergence (MACD) line is above the centerline and the signal line, indicating a bullish momentum in the pair.

EUR/USD: Daily Chart

EUR/USD: more technical levels to watch

Overview
Today last price	1.0898
Today Daily Change	-0.0008
Today Daily Change %	-0.07
Today daily open	1.0906

Trends
Daily SMA20	1.0749
Daily SMA50	1.0649
Daily SMA100	1.0793
Daily SMA200	1.0809

Levels
Previous Daily High	1.0931
Previous Daily Low	1.0883
Previous Weekly High	1.0909
Previous Weekly Low	1.0665
Previous Monthly High	1.0695
Previous Monthly Low	1.0448
Daily Fibonacci 38.2%	1.0913
Daily Fibonacci 61.8%	1.0901
Daily Pivot Point S1	1.0882
Daily Pivot Point S2	1.0859
Daily Pivot Point S3	1.0834
Daily Pivot Point R1	1.093
Daily Pivot Point R2	1.0955
Daily Pivot Point R3	1.0978

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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