EUR/USD Price Analysis: Reverses from monthly resistance trendline, midly weak above 1.0900

EUR/USD remains soft amid the Good Friday holiday in major markets.
The pair’s pullback from the monthly resistance line portrays further declines.
An upside break needs validation from 200-bar SMA.

Anil Panchal FXStreet

While taking a U-turn from the short-term resistance trend line, EUR/USD drops to 1.0920 amid the early Friday morning.

Although the pair’s pullback moves from key resistance signals further declines, Good Friday holidays in most markets seem to limit the pair’s performance.

Even so, 23.6% Fibonacci retracement of March month fall, around 1.0840/35 stays on the sellers’ radars. However, an ascending trend line from March 22, near 1.0810 now, could limit the pair’s further downside.

On the upside, the pair’s sustained break of 1.0935 trend line isn’t going to recall the buyers as 200-bar SMA surrounding 1.1015 offers an additional upside barrier.

EUR/USD four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	1.0923
Today Daily Change	-6 pips
Today Daily Change %	-0.05%
Today daily open	1.0929

Trends
Daily SMA20	1.0916
Daily SMA50	1.0975
Daily SMA100	1.1037
Daily SMA200	1.1063

Levels
Previous Daily High	1.0952
Previous Daily Low	1.0841
Previous Weekly High	1.1144
Previous Weekly Low	1.0773
Previous Monthly High	1.1497
Previous Monthly Low	1.0636
Daily Fibonacci 38.2%	1.0909
Daily Fibonacci 61.8%	1.0883
Daily Pivot Point S1	1.0863
Daily Pivot Point S2	1.0796
Daily Pivot Point S3	1.0752
Daily Pivot Point R1	1.0974
Daily Pivot Point R2	1.1018
Daily Pivot Point R3	1.1084

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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