EUR/USD Price Analysis: Stays sidelined around 1.1650, monthly resistance line in focus

EUR/USD keeps latest rebound from 10-day EMA, off intraday low.
Bullish MACD, sustained trading beyond short-term moving averages favor buyers.
August month’s low adds to the upside filters.

Anil Panchal FXStreet

EUR/USD picks up bids to 1.1642, keeping the two-day advances intact during the early Asian session on Monday.

In doing so, the currency major pair stays firmer above 10-day and 21-day EMAs amid bullish MACD signals, suggesting further advances towards the downward sloping resistance line from September 22, near 1.1655.

It should be noted, however, that August month’s low around 1.1665 will validate the quote’s additional upside towards the late September’s peak near 1.1755.

Meanwhile, the stated EMAs, close to 1.1630-25, challenge the short-term EUR/USD declines ahead of the 1.1600 threshold and the 1.1570 support levels.

In a case where the pair bears dominate past 1.1570, the yearly low near 1.1525 and the 1.1500 round figure will be in focus.

Overall, EUR/USD gains upside momentum but bulls need validation.

EUR/USD: Daily chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	1.1642
Today Daily Change	-0.0003
Today Daily Change %	-0.03%
Today daily open	1.1645

Trends
Daily SMA20	1.1604
Daily SMA50	1.1707
Daily SMA100	1.1796
Daily SMA200	1.1918

Levels
Previous Daily High	1.1656
Previous Daily Low	1.1621
Previous Weekly High	1.167
Previous Weekly Low	1.1572
Previous Monthly High	1.1909
Previous Monthly Low	1.1563
Daily Fibonacci 38.2%	1.1643
Daily Fibonacci 61.8%	1.1634
Daily Pivot Point S1	1.1626
Daily Pivot Point S2	1.1606
Daily Pivot Point S3	1.1591
Daily Pivot Point R1	1.166
Daily Pivot Point R2	1.1675
Daily Pivot Point R3	1.1694

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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