- The EUR/USD was observed by quoting around the 1,0910 zone after the European session, recovering after recent corrections.
- Despite the rebound, the Momentum indicators suggest uncertainty, with the RSI returning to the overcompra territory but the MACD showing weaker green bars.
The EUR/USD extended profits on Monday after the European session, climbing to the area of 1,0910 as the bulls made a return after a brief corrective phase. The pair recovered moderately, but signs of a faded momentum persist, which makes the short -term perspective uncertain.
The Relative Force Index (RSI) has returned to overcompra levels, pointing out a strong purchase interest, however, the indicator of convergence/divergence of mobile socks (MACD) is printing weakest green bars, suggesting that the bullish impulse could be fading. This mixed image leaves space for a side trading or a possible setback if buyers fail to keep the upward thrust.
In the Technical Front, the immediate resistance is about 1,0930, and a break above this level could open the door to more profits towards 1,0950. At the bottom, the initial support is located in 1,0880, followed by a stronger floor around 1,0850. If sellers earn a traction, the pair could experience a deeper setback in the following sessions.
EUR/USD daily graphics
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.
