EUR/USD Price Analysis: Pressured below 200-HMA inside short-term triangle

EUR/USD struggled to extend Friday’s recovery moves.
A three-day-old falling trend line adds to the resistance.
April month low will lure the sellers below triangle breakdown.

Anil Panchal FXStreet

EUR/USD drops to 1.0815 during the early Monday trading session. In doing so, the quote stays depressed below 200-HMA while also staying inside a short-term triangle formation.

Although the pair’s immediate failures to cross 200-HMA drags it towards 1.0800 mark, the formation support, at 1.0775 now, will keep the sellers in check.

Should there be a clear break below 1.0775, April month bottom surrounding 1.0730/25 will be the bears’ favorite.

On the contrary, an upside break of 200-HMA level of 1.0823 will push the pair towards a three-day-old resistance line, at 1.0840 now.

Though, the pair’s further rise past-1.0840 will be hindered by the said triangle’s resistance line near 1.0860.

EUR/USD hourly chart

Trend: Bearish

Additional important levels

Overview
Today last price	1.0817
Today Daily Change	-4 pips
Today Daily Change %	-0.04%
Today daily open	1.0821

Trends
Daily SMA20	1.0846
Daily SMA50	1.0918
Daily SMA100	1.0978
Daily SMA200	1.102

Levels
Previous Daily High	1.0851
Previous Daily Low	1.0789
Previous Weekly High	1.0897
Previous Weekly Low	1.0775
Previous Monthly High	1.1039
Previous Monthly Low	1.0727
Daily Fibonacci 38.2%	1.0827
Daily Fibonacci 61.8%	1.0813
Daily Pivot Point S1	1.0789
Daily Pivot Point S2	1.0758
Daily Pivot Point S3	1.0727
Daily Pivot Point R1	1.0852
Daily Pivot Point R2	1.0882
Daily Pivot Point R3	1.0914

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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