EUR/USD Price Analysis: Rises to near 1.0810 followed by the barrier at 50-day EMA


  • EUR/USD could test the resistance zone around the 50-day EMA and a three-week high.
  • A break above the major level of 1.0850 could lead the pair to reach a 38.2% Fibonacci retracement at 1.0864.
  • Technical indicators suggest a momentum shift towards an upward direction.

EUR/USD continues its winning streak that began on February 14 as the US Dollar (USD) receives downward pressure, which in turn, underpins the EUR/USD pair. The pair edges higher around 1.0810 during the Asian session on Wednesday.

The EUR/USD pair could rise to test the immediate resistance zone around the 50-day Exponential Moving Average (EMA) at 1.0834 and the three-week high at 1.0838. A breakthrough above this zone could exert upward support for the pair to reach the major support at 1.0850 followed by the 38.2% Fibonacci retracement level at 1.0864.

The technical analysis of the EUR/USD pair indicates a potential shift towards upward momentum. While the 14-day Relative Strength Index (RSI) sits at the 50 mark, signaling a neutral stance, the Moving Average Convergence Divergence (MACD) lies below the centreline but shows a divergence above the signal line. Traders may await further confirmation from the MACD to determine a clear directional trend.

On the downside, the immediate support appears at the psychological level at 1.0800 followed by the recent low at 1.0761 recorded on Tuesday. A break below the latter could put downward pressure on the EUR/USD pair to navigate the major support level of 1.0750 with an aim to approach the psychological support at 1.0700.

EUR/USD: Daily Chart

EUR/USD: Other important levels to watch

Overview
Today last price 1.0816
Today Daily Change 0.0006
Today Daily Change % 0.06
Today daily open 1.081
 
Trends
Daily SMA20 1.0795
Daily SMA50 1.0891
Daily SMA100 1.0804
Daily SMA200 1.0827
 
Levels
Previous Daily High 1.0839
Previous Daily Low 1.0762
Previous Weekly High 1.0806
Previous Weekly Low 1.0695
Previous Monthly High 1.1046
Previous Monthly Low 1.0795
Daily Fibonacci 38.2% 1.0809
Daily Fibonacci 61.8% 1.0791
Daily Pivot Point S1 1.0769
Daily Pivot Point S2 1.0727
Daily Pivot Point S3 1.0692
Daily Pivot Point R1 1.0846
Daily Pivot Point R2 1.0881
Daily Pivot Point R3 1.0923

 

 

Share: Feed news

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.

Recommended content


Recommended content

Editors’ Picks

AUD/USD regained the smile…and the 200-day SMA

AUD/USD regained the smile…and the 200-day SMA

AUD/USD added to the positive start to the week and extended its bullish performance, surpassing the 0.6600 barrier and putting the critical 200-day SMA to the test.

AUD/USD News
EUR/USD remains well bid above 1.0900 ahead of US election results

EUR/USD remains well bid above 1.0900 ahead of US election results

EUR/USD built on Monday’s marginal gains and advanced further north of 1.0900 the figure on the back of the persistent selling bias in the US Dollar ahead of the FOMC event and the US election results.

EUR/USD News
Gold extends consolidative phase as US election result looms

Gold extends consolidative phase as US election result looms

Gold attracts dip-buyers after touching a one-week low on Tuesday but remains below $2,750. The benchmark 10-year US Treasury bond yield stays in positive territory above 4.3% as markets eye US election exit polls, limiting XAU/USD's upside.

Gold News
Ethereum Price Forecast: ETH could rise 10% upon a Trump win, investors de-risk ahead of election results

Ethereum Price Forecast: ETH could rise 10% upon a Trump win, investors de-risk ahead of election results

Ethereum (ETH) is trading near $2,450 on Tuesday, but it could stage a 10% rise to test the $2,707 key resistance level if Donald Trump wins the US presidential election.

Read more
US election day – A traders’ guide

US election day – A traders’ guide

Election day volatility: Brace for potential wild market swings. Election days bring opportunities, but also risks. Unclear results can increase volatility further.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures