• EUR/USD keeps late Monday’s pullback from a 12-day top despite recent recovery.
  • Firmer RSI, three-day-old support defend buyers inside a bearish chart formation.
  • 50-SMA adds to the downside filters before directing bears to the monthly low, 200-SMA guards short-term rebound.

EUR/USD picks up bids to rebound from the intraday lows surrounding 1.0570 to pare daily losses, the first in three days, during Tuesday’s Asian session. That said, the quote rises to 1.585 by the press time.

Although a three-day-old support line triggered the EUR/USD pair’s rebound, it stays inside a two-week-long ascending triangle bearish chart pattern.

It’s worth noting that the recently firmer RSI line and the rebound from a short-term support line direct EUR/USD towards battling with the 200-SMA resistance of 1.0590.

However, the aforementioned triangle’s resistance line, neat 1.0610, could challenge the EUR/USD pair’s further upside.

In a case where the quote rises past 1.0610, it becomes capable of challenging the monthly high near 1.0775.

On the flip side, a break of the immediate support line, near 1.0570 at the latest, won’t convince the EUR/USD bears as the triangle’s lower line and the 50-SMA act as additional downside filters to challenge the downside momentum around 1.0540 and 1.0530 respectively.

Should the quote drop below 1.530, the monthly low of near 1.0360 will gain the seller’s attention.

EUR/USD: Four-hour chart

Trend: Pullback expected

Additional important levels

Today last price 1.0583
Today Daily Change -0.0003
Today Daily Change % -0.03%
Today daily open 1.0586
Daily SMA20 1.0584
Daily SMA50 1.06
Daily SMA100 1.0839
Daily SMA200 1.1133
Previous Daily High 1.0615
Previous Daily Low 1.055
Previous Weekly High 1.0606
Previous Weekly Low 1.0469
Previous Monthly High 1.0787
Previous Monthly Low 1.035
Daily Fibonacci 38.2% 1.059
Daily Fibonacci 61.8% 1.0575
Daily Pivot Point S1 1.0552
Daily Pivot Point S2 1.0519
Daily Pivot Point S3 1.0488
Daily Pivot Point R1 1.0617
Daily Pivot Point R2 1.0648
Daily Pivot Point R3 1.0681



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