EUR/USD is fading Friday’s gains and returned to the 1.0820 area. Rallies are seen struggling initially in the 1.0880/90 zone. EUR/USD has come under pressure on Monday after failing to sustain the move to the 1.0860/65 band last Friday. In the meantime, current “oversold” conditions, as per the RSI indicator, remain the only driver behind occasional bouts of strength that should face initial hurdle in the 1.0880 region, where sits a Fibo retracement of the 2020 drop and the October 2019 low. On the broader scenario, the bearish view remains unchanged as long as the spot trades below the 55-day SMA, today at 1.1045. However, the inability of sellers to push through the 1.0780/75 band in the short-term horizon could spark some consolidation, leaving that area as an interim bottom. EUR/USD daily chart 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/JPY Price Analysis: Trying to defend 200-hour SMA/61.8% Fibo. confluence support FX Street 2 years EUR/USD is fading Friday’s gains and returned to the 1.0820 area. Rallies are seen struggling initially in the 1.0880/90 zone. EUR/USD has come under pressure on Monday after failing to sustain the move to the 1.0860/65 band last Friday. In the meantime, current “oversold” conditions, as per the RSI indicator, remain the only driver behind occasional bouts of strength that should face initial hurdle in the 1.0880 region, where sits a Fibo retracement of the 2020 drop and the October 2019 low. On the broader scenario, the bearish view remains unchanged as long as the spot trades below the 55-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.
