EUR/USD wavers inside a five-pip trading range after refreshing one-month high. Bullish MACD, sustained trading above 200-day SMA favor buyers. Six-week-old horizontal area adds to the upside barriers. Having refreshed the highest levels since March 18 the previous day, EUR/USD bulls catch a breather around 1.1950 during Wednesday’s Asian session. In doing so, the quote seesaws around 38.2% Fibonacci retracement of January-March downside. It should, however, be noted that the currency major’s ability to stay strong beyond 200-day SMA, backed by the strongest bullish MACD signals since early December 2020 suggests the quote’s further upside. Though, a clear run-up past-50-day SMA level of 1.1965 becomes necessary for the EUR/USD buyers before confronting a horizontal area comprising multiple levels marked in March, around 1.1988-95. It’s worth mentioning that the 1.2000 threshold and 50% Fibonacci retracement level of 1.2026 add to the upside filters. Meanwhile, a daily close below the 200-day SMA level of 1.1906 can recall EUR/USD sellers targeting the early March low near 1.1835. However, 1.1760 and the previous month’s low near the 1.1700 round-figure will question the pair’s any further weakness. EUR/USD daily chart Trend: Further upside expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/AUD Price Analysis: Bears eye daily downside extension FX Street 2 years EUR/USD wavers inside a five-pip trading range after refreshing one-month high. Bullish MACD, sustained trading above 200-day SMA favor buyers. Six-week-old horizontal area adds to the upside barriers. Having refreshed the highest levels since March 18 the previous day, EUR/USD bulls catch a breather around 1.1950 during Wednesday's Asian session. In doing so, the quote seesaws around 38.2% Fibonacci retracement of January-March downside. It should, however, be noted that the currency major's ability to stay strong beyond 200-day SMA, backed by the strongest bullish MACD signals since early December 2020 suggests the quote's further upside. Though, a clear run-up past-50-day… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
