EUR/USD turns lower from 1.0950 for the second straight trading day. Trendline breakout fails to draw bids for the single currency. EUR/USD’s struggle for upside traction continues on Monday with buyers failing to take out key hurdle for the second consecutive trading day. The common currency is currently trading at 1.0933, having faced rejection near 1.950 during the early Asian trading hours. That level also capped upside on Friday. The repeated failure at 1.0950 has neutralized the immediate bullish outlook put forward by the upside break of the trendline connecting March 3 and March 27 highs. The 14-day relative strength index, too, is sidelined at 50, indicating a neutral bias. If the psychological support of 1.09 is breached, the single currency could roll over toward the confluence of the 50- and 100-hour averages at 1.0882. Alternatively, a convincing move above 1.0950 would revive the bullish view and open the doors to the psychological hurdle at 1.10. 4-hour 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 GBP/JPY slips below 135.00 on coronavirus fears FX Street 2 years EUR/USD turns lower from 1.0950 for the second straight trading day. Trendline breakout fails to draw bids for the single currency. EUR/USD's struggle for upside traction continues on Monday with buyers failing to take out key hurdle for the second consecutive trading day. The common currency is currently trading at 1.0933, having faced rejection near 1.950 during the early Asian trading hours. That level also capped upside on Friday. The repeated failure at 1.0950 has neutralized the immediate bullish outlook put forward by the upside break of the trendline connecting March 3 and March 27 highs. The 14-day relative strength… 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.
