EUR/USD Tuesday’s four-hour chart is somewhat bearish. Yohay Elam, an analyst at FXStreet, takes a look at the Euro/dollar pair from a technical perspective.
Key quotes
“EUR/USD is trading below the 50, 100, and 200 Simple Moving Averages on the four-hour chart, a bearish sign. It has also been setting lower lows, bearish signs. However, trading ranges are limited and momentum has stabilized.”
“Support awaits around 1.0810, a low point seen twice in recent weeks. It is followed by 1.0770, the bottom in early April.”
“Resistance is at 1.0855, the weekly high, followed by the round 1.09 level, which capped EUR/USD last week. The next levels to watch are 1.0930 and 1.0995.”
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