In the early European session on Tuesday, EUR/USD is trading around 1.0871, staying in negative territory. The pair is experiencing a cautious market sentiment, with traders holding back ahead of the Federal Reserve’s interest rate decision scheduled for Wednesday. Currently, EUR/USD is showing a slight decrease of 0.01%.

Technically, EUR/USD continues to exhibit a bearish outlook. It remains below the key 50- and 100-period Exponential Moving Averages (EMA) on the four-hour chart. The Relative Strength Index (RSI) is below the 50-midline, indicating favourable conditions for further downside movement.

The immediate downside target for the pair is around 1.0852, positioned near the lower boundary of the Bollinger Band. Below this level, the next significant support is at 1.0800, marked by a previous low and a psychological level. Further downward movement could lead to levels around 1.0761 and 1.0725.

On the upside, the initial resistance is anticipated at the 100-period EMA at 1.0882. For a bullish breakout, EUR/USD would need to surpass the 1.0900-1.0905 zone, which includes the 50-period EMA, a psychological level, and a previous high. A successful breach above this level could trigger a rally towards the upper boundary of the Bollinger Band at 1.0926, followed by higher levels around 1.0955.

EUR/USD four-hour chart 


Today last price1.0871
Today Daily Change-0.0001
Today Daily Change %-0.01
Today daily open1.0872
Daily SMA201.087
Daily SMA501.085
Daily SMA1001.0861
Daily SMA2001.0839
Previous Daily High1.0906
Previous Daily Low1.0866
Previous Weekly High1.0964
Previous Weekly Low1.0873
Previous Monthly High1.0898
Previous Monthly Low1.0695
Daily Fibonacci 38.2%1.0881
Daily Fibonacci 61.8%1.0891
Daily Pivot Point S11.0857
Daily Pivot Point S21.0841
Daily Pivot Point S31.0817
Daily Pivot Point R11.0897
Daily Pivot Point R21.0922
Daily Pivot Point R31.0937

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