EUR/USD Price Analysis: Trades near two-month ascending trendline

EUR/USD is sidelined near key trendline support in Asia.
The daily chart shows signs of bull fatigue above 1.23.

Omkar Godbole FXStreet Contributor

EUR/USD is trading near 1.2250 at press time. That level is currently housing the trendline rising from Nov. 4 and Nov. 23 lows.

Acceptance below the trendline would validate the bull fatigue signaled by the pair's failure to keep gains above 1.23 for the third straight trading day on Monday and open the doors to the 30-day Simple Moving Average (SMA), currently at 1.2121.

That looks likely as the 14-day Relative Strength Index has diverged in favor of the bear. The pair needs to see quick progress above 1.23 to negate downside risks.

Daily chart

Trend: Bullish above 1.23

Technical levels

EUR/USD

Overview
Today last price	1.225
Today Daily Change	0.0001
Today Daily Change %	0.01
Today daily open	1.2249

Trends
Daily SMA20	1.2192
Daily SMA50	1.1996
Daily SMA100	1.1897
Daily SMA200	1.1552

Levels
Previous Daily High	1.231
Previous Daily Low	1.2231
Previous Weekly High	1.231
Previous Weekly Low	1.2181
Previous Monthly High	1.231
Previous Monthly Low	1.1924
Daily Fibonacci 38.2%	1.228
Daily Fibonacci 61.8%	1.2261
Daily Pivot Point S1	1.2217
Daily Pivot Point S2	1.2184
Daily Pivot Point S3	1.2138
Daily Pivot Point R1	1.2296
Daily Pivot Point R2	1.2342
Daily Pivot Point R3	1.2375

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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