EUR/USD Price Analysis: Minor support emerges at 1.0712

EUR/USD trades within a narrow range around 1.0770.
Occasional bearish moves could revisit the 1.0710 region.

Pablo Piovano FXStreet

EUR/USD looks cautious around 1.0760/70 amidst alternating risk appetite trends at the beginning of the week.

In case bears regain the upper hand, the pair could slip back to the provisional 55-day SMA near 1.0730 ahead of the minor support at 1.0712 (low March 24). A deeper retracement could extend to the 100-day SMA, today at 1.0621.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0333.

EUR/USD daily chart

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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