The EUR/USD pair shows signs of upward movement, possibly reaching the psychological resistance level at 1.0800. Technical analysis suggests a shift towards positive momentum, with support expected around 1.0750 and the previous week’s low at 1.0722.

In Monday’s Asian session, the EUR/USD pair extended its winning streak for the fifth consecutive session, edging closer to the 1.0790 level. Traders are closely monitoring the key resistance at 1.0800 and the 14-day Exponential Moving Average (EMA) at 1.0810.

A decisive break above the EMA could strengthen the upward momentum, targeting key levels such as the 23.6% Fibonacci retracement level at 1.0821 and the significant barrier at 1.0850. Further upside potential may lead the pair towards the psychological level at 1.0900.

Technical indicators present a mixed outlook, with the 14-day Relative Strength Index (RSI) indicating bearish momentum below the 50 mark. However, the Moving Average Convergence Divergence (MACD) shows signs of convergence below the signal line, suggesting a potential shift towards upside momentum.

Traders may await further confirmation of the directional trend before making trading decisions. On the downside, immediate support is anticipated at 1.0750, followed by 1.0722. A breach below these levels could lead to further downward pressure, potentially targeting the psychological support at 1.0700. Market sentiment will be closely monitored around these levels for potential shifts.

EUR/USD: Daily Chart


Today last price1.079
Today Daily Change0.0004
Today Daily Change %0.04
Today daily open1.0786
Daily SMA201.0838
Daily SMA501.0894
Daily SMA1001.0788
Daily SMA2001.0833
Previous Daily High1.0795
Previous Daily Low1.0762
Previous Weekly High1.0795
Previous Weekly Low1.0723
Previous Monthly High1.1046
Previous Monthly Low1.0795
Daily Fibonacci 38.2%1.0783
Daily Fibonacci 61.8%1.0775
Daily Pivot Point S11.0767
Daily Pivot Point S21.0748
Daily Pivot Point S31.0734
Daily Pivot Point R11.08
Daily Pivot Point R21.0814
Daily Pivot Point R31.0833

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