EUR/USD Price Analysis: Rebounds ahead of German data, holds above 1.0900


  • EUR/USD recovers its recent losses on prevailing upward movement.
  • Technical indicators suggest positive sentiment to revisit the psychological resistance at the 1.1000 level and the two-month high at 1.1017.
  • The break below 1.0900 could push the pair to meet the 23.6% Fibo at 1.0884 and seven-day EMA at 1.0881.

EUR/USD retraces its recent losses ahead of German data scheduled to be released on Monday. The EUR/USD pair trades higher around 1.0910 during the Asian session.

The technical indicators for the EUR/USD pair favor the prevailing upward movement. With the 14-day Relative Strength Index (RSI) staying above the 50 mark, there's a positive sentiment suggesting a potential re-testing of the psychological resistance at the 1.1000 level followed by the two-month high at 1.1017.

Additionally, the Moving Average Convergence Divergence (MACD) suggests the overall positive momentum as the MACD line is positioned above the centerline and the signal line. This shows a potential for an upward trend, which could influence the EUR/USD pair to break above the barrier to explore the major level at 1.1050.

On the downside, the psychological level at 1.0900 appears as the key support followed by the 23.6% Fibonacci retracement level at 1.0884 and the seven-day Exponential Moving Average (EMA) at 1.0881.

A firm break below the support region could put pressure on the bears of the EUR/USD pair to navigate the psychological area around 38.2% Fibonacci retracement at 1.0801.

EUR/USD: Daily Chart

EUR/USD: more technical levels to watch

Overview
Today last price 1.091
Today Daily Change 0.0016
Today Daily Change % 0.15
Today daily open 1.0894
 
Trends
Daily SMA20 1.0878
Daily SMA50 1.0739
Daily SMA100 1.0755
Daily SMA200 1.083
 
Levels
Previous Daily High 1.1004
Previous Daily Low 1.0889
Previous Weekly High 1.1009
Previous Weekly Low 1.0742
Previous Monthly High 1.1017
Previous Monthly Low 1.0517
Daily Fibonacci 38.2% 1.0933
Daily Fibonacci 61.8% 1.096
Daily Pivot Point S1 1.0854
Daily Pivot Point S2 1.0814
Daily Pivot Point S3 1.0739
Daily Pivot Point R1 1.0969
Daily Pivot Point R2 1.1044
Daily Pivot Point R3 1.1084

 

 

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