EUR/USD Price Analysis: Hovers near 1.0780 followed by 23.6% Fibonacci retracement

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

United States Headlines News

United States Latest News,United States Headlines

EUR/USD continues its winning streak for the second consecutive session on Wednesday, inching higher to near 1.0780 during the Asian hours.

EUR/USD extends gains towards the psychological barrier of 1.0800. Technical analysis indicates a potential confirmation of bearish momentum for the pair. The key support appears around March’s low of 1.0767 and the major level of 1.0750. The immediate resistance appears at the 23.6% Fibonacci retracement level of 1.0785. A breakthrough above this level could exert upward support for the EUR/USD pair to explore the region around the nine-day Exponential Moving Average at 1.

Technical analysis suggests a bearish sentiment for the EUR/USD pair. The 14-day Relative Strength Index is positioned below the 50 mark, indicating weakness in buying momentum. Additionally, the Moving Average Convergence Divergence shows a divergence below the signal line and remains below the centerline. Although a lagging indicator, this alignment indicates a confirmation of the bearish momentum for the EUR/USD pair. On the downside, immediate support appears at March’s low of 1.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EUR/USD Price Analysis: Holds below the mid-1.0900s, bullish outlook remains intactThe EUR/USD pair trades on a weaker note below the mid-1.0900s during the early European session on Thursday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/USD Price Analysis: Hovers below the psychological resistance of 1.0900EUR/USD edges lower to near 1.0890 during the Asian market hours on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/USD Price Analysis: Keeps the bearish vibe above 1.0870The EUR/USD pair trades on a negative note during the early European session on Tuesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/USD Price Analysis: Holds steady above mid-1.0800s, lacks follow-through ahead of FedThe EUR/USD pair edges higher during the Asian session on Wednesday and for now, seems to have snapped a two-day losing streak to a nearly two-week low, around the 1.0835 region touched the previous day.
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/USD Price Analysis: Sees downside to 1.0800 amid dismal market sentimentThe EUR/USD pair extends its downside to three-day low around 1.0840 in the late Asian session on Friday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/USD Price Analysis: The initial support level is seen at the 1.0800 markThe EUR/USD pair trades on a stronger note below the mid-1.0800s during the early European session on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »