- EUR/USD captures new purchases and marks the third consecutive positive day.
- The successful breakout of the 50 SMA and the bullish signals from the MACD keep buyers hopeful.
- Breaking above 1.0200 is needed to confirm the bullish chart pattern.
- The 50 SMA and the weekly support line restrict immediate bearish moves.
The EUR/USD pair refreshes its intraday high around 1.0150 as the bulls extend the three-day uptrend at the start of the European session on Tuesday.
The pair rose to the highest level in a month the day before, before reversing from the resistance line of a nearly two-month-long falling wedge chart pattern. However, the pullback remained above the 50-day SMA, keeping buyers hopeful.
The positive signals from the MACD and the firmness of the RSI (14), not yet overbought, also favor the upward momentum.
However, note that the clear break to the upside of the 1.0200 level is important for EUR/USD bulls as it will confirm the theoretical transition towards the 1.0950 hurdle.
During the rally, the highs made during August and June, respectively near 1.0370 and 1.0615, could test the upward momentum, in addition to the obstacle of the 100 SMA around 1.0335.
Meanwhile, pullback moves could initially target the 50 SMA support near 1.0115, the break of which could lead EUR/USD bears towards a week-old support line near 1.0085 at time of writing. .
Further down, the yearly low near 0.9865 and the lower line of the mentioned wedge near 0.9860 should draw the market’s attention.
EUR/USD daily chart
Trend: A higher rise is expected
EUR/USD additional levels
Overview | |
---|---|
last price today | 1.0147 |
today daily change | 0.0024 |
Today’s daily variation in % | 0.24% |
Daily opening today | 1.0123 |
Trends | |
---|---|
daily SMA20 | 1.0013 |
daily SMA50 | 1.0114 |
daily SMA100 | 1,034 |
daily SMA200 | 1.0757 |
levels | |
---|---|
Previous daily high | 1.0198 |
Previous Daily Low | 1.0043 |
Previous Weekly High | 1.0114 |
Previous Weekly Low | 0.9864 |
Previous Monthly High | 1.0369 |
Previous Monthly Low | 0.9901 |
Daily Fibonacci of 38.2% | 1.0139 |
Daily Fibonacci of 61.8% | 1.0102 |
Daily Pivot Point S1 | 1.0044 |
Daily Pivot Point S2 | 0.9966 |
Daily Pivot Point S3 | 0.989 |
Daily Pivot Point R1 | 1.0199 |
Daily Pivot Point R2 | 1.0276 |
Daily Pivot Point R3 | 1.0354 |
Source: Fx Street
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