EUR/USD could approach the major support at 1.0750 following February’s low at 1.0694. The resistance zone could be found around the 21-day EMA at 1.0798 and the 23.6% Fibonacci retracement at 1.0799. Traders may await the lagging indicator MACD to confirm a directional trend. The pair trades lower around 1.0770 during the Asian hours on Tuesday with positioning above the immediate support at the psychological level of 1.0750.
The technical analysis of the EUR/USD pair suggests a mixed outlook in the market. The 14-day Relative Strength Index is below the 50 mark, indicating a bearish momentum. However, the lagging indicator Moving Average Convergence Divergence , although still below the centerline, is above the signal line, suggesting a tepid momentum in the market.
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