EUR/USD’s immediate bias remains neutral despite Tuesday’s rise. The recently held 50-day SMA line is a crucial support. EUR/USD is trading in a sideways manner in Asia, having defended the 50-day Simple Moving Average (SMA) support and gained 0.19% to 1.2160 on Tuesday. While the bounce from the 50-day SMA is encouraging, the pair still holds below the lower high of 1.2190 created on Jan. 22. As such, the immediate bias remains neutral. A break above 1.2190 would expose the high of 1.2349 seen early this month. On the downside, the 50-day SMA is key support, which, if breached, could invite more substantial selling pressure, yielding a drop to 1.20. The sellers have failed to keep losses below the ascending or bullish 50-day SMA at least three times since Jan. 18. Daily chart Trend: Neutral Technical levels 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 PBOC sets yuan reference rate at 6.4665 FX Street 1 year EUR/USD's immediate bias remains neutral despite Tuesday's rise. The recently held 50-day SMA line is a crucial support. EUR/USD is trading in a sideways manner in Asia, having defended the 50-day Simple Moving Average (SMA) support and gained 0.19% to 1.2160 on Tuesday. While the bounce from the 50-day SMA is encouraging, the pair still holds below the lower high of 1.2190 created on Jan. 22. As such, the immediate bias remains neutral. A break above 1.2190 would expose the high of 1.2349 seen early this month. On the downside, the 50-day SMA is key support, which, if breached, could… 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.
