- EUR/USD alternates gains and losses below 1.0900.
- The two-month support line near 1.0650 holds the dip for now.
EUR/USD daily advance falters just before the key 1.0900 barrier on Tuesday.
Continuation of the uptrend now needs a quick break of the 2023 high at 1.0926 (Jan 23) to allow for a test of the weekly high of 1.0936 (April 21, 2022). A sustainable break above this level could pave the way for a challenge to the key 1.1000 barrier in the not too distant future.
Meanwhile, if it remains above the near-term support line near 1.0650, the pair should continue to gain ground.
Longer-term, the constructive view remains unchanged as long as it stays above the 200 SMA at 1.0308 today.
EUR/USD day chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
