- EUR/USD could reach immediate resistance around the major level at 1.0950.
- Technical indicators suggest a stronger momentum; bulls could target August’s high at 1.1064.
- A firm break below 1.0900 could inspire the bears to navigate the nine-day EMA.
EUR/USD continues the winning streak, trading around a three-month high at 1.0920 during the Asian session on Monday. The pair seems to approach immediate resistance around the major level at 1.0950 as the US Dollar (USD) faces pressure on the likelihood of the Federal Reserve (Fed) to conclude its interest rate-hike cycle.
A breakthrough above the latter could support the bulls of the EUR/USD pair to target the next barrier at the 1.1000 psychological level, following August’s high at 1.1064.
The ongoing upward trend is backed by the technical indicators for the EUR/USD pair. The 14-day Relative Strength Index (RSI) above the 50 level signals bullish sentiment, indicating a stronger momentum for the pair.
Additionally, the Moving Average Convergence Divergence (MACD) line lies above the centerline, with divergence above the signal line, suggesting a bullish momentum in the EUR/USD pair.
On the downside, the psychological level at 1.0900 emerges as a key support, following the next major level at 1.0850. A firm break below the level could put pressure on the EUR/USD pair to navigate the region around the nine-day Exponential Moving Average (EMA) at 1.0819, aligning with the 23.6% Fibonacci retracement at 1.0811.
EUR/USD: Daily Chart
EUR/USD: Other technical levels to watch
|Today last price||1.0926|
|Today Daily Change||0.0017|
|Today Daily Change %||0.16|
|Today daily open||1.0909|
|Previous Daily High||1.0909|
|Previous Daily Low||1.0825|
|Previous Weekly High||1.0909|
|Previous Weekly Low||1.0665|
|Previous Monthly High||1.0695|
|Previous Monthly Low||1.0448|
|Daily Fibonacci 38.2%||1.0877|
|Daily Fibonacci 61.8%||1.0857|
|Daily Pivot Point S1||1.0853|
|Daily Pivot Point S2||1.0797|
|Daily Pivot Point S3||1.0768|
|Daily Pivot Point R1||1.0937|
|Daily Pivot Point R2||1.0965|
|Daily Pivot Point R3||1.1021|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.