EUR/USD Price Analysis: Bulls attack 1.0520 hurdle with eyes on 200-SMA
FXStreet · 21 Jun 2022 163 Views
  • EUR/USD grinds higher around 1.0525 as bulls jostle with weekly resistance line.
  • Bullish MACD signals hint at further but previous support line, 200-SMA challenge buyers.
  • Bears have multiple levels to conquer before retaking control.

EUR/USD battles with an eight-day-old resistance line as buyers extend the week-start rebound to 1.0520 during Tuesday’s Asian session.

Bullish MACD signals seem to keep the EUR/USD pair buyers hopeful. However, the previous support line from Friday, around 1.0540, acts as an extra filter to the north.

Also challenging the major currency pair buyers is the 200-SMA level surrounding 1.0585-90, as well as the previously weekly top near the 1.0600 threshold.

In a case where EUR/USD buyers manage to keep reins past 1.0600, June 10 high close to 1.0640 will be the last defense of the pair sellers before recalling the above 1.0700 area on the chart.

Alternatively, pullback moves remain elusive until the quote stays beyond an upward sloping trend line from June 15, around 1.0450. It’s worth noting that Friday’s low near 1.0440 offers extra support to watch.

Should EUR/USD bears conquer the 1.0440 support, the odds of witnessing a south-run towards the yearly low near 1.0360 can’t be ruled out.

EUR/USD: Four-hour chart

Trend: Further upside expected

Additional important levels

Today last price 1.0521
Today Daily Change 0.0007
Today Daily Change % 0.07%
Today daily open 1.0514
Daily SMA20 1.0629
Daily SMA50 1.0627
Daily SMA100 1.0881
Daily SMA200 1.1163
Previous Daily High 1.0546
Previous Daily Low 1.0474
Previous Weekly High 1.0601
Previous Weekly Low 1.0359
Previous Monthly High 1.0787
Previous Monthly Low 1.035
Daily Fibonacci 38.2% 1.0519
Daily Fibonacci 61.8% 1.0502
Daily Pivot Point S1 1.0477
Daily Pivot Point S2 1.044
Daily Pivot Point S3 1.0405
Daily Pivot Point R1 1.0548
Daily Pivot Point R2 1.0583
Daily Pivot Point R3 1.062

Affected Trading Instrument

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