EUR/USD has been struggling to recover as Monday’s four-hour chart is painting a mixed picture. Yohay Elam, an analyst at FXStreet, examines the pair from a technical perspective.
Key quotes
“EUR/USD is trading above the 100 and 200 Simple Moving Averages on the four-hour chart, yet momentum is to the downside and it is below the 200 SMA, a mixed picture.”
“Support awaits at 1.11, which provided support in early March, followed by 1.1050, which is a robust line after holding the euro up in recent days.”
“Resistance is at 1.1225, the daily high, followed by the 200 SMA at 1.1250.”
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