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Forex News

Euro bounces and challenges 1.0900 figure

  • EUR/USD is rebounding from the April’s lows while challenging the 1.0900 figure.
  • The correction up can extend towards 1.0970 and 1.1044 price levels. 

 

EUR/USD daily chart 

 

EUR/USD is rebounding from the 1.0800 figure while trading below its main DMA (daily simple moving average) as DXY (US dollar index) is losing steam this Tuesday.

 

EUR/USD four-hour chart

 

EUR/USD is challenging the 1.0920 resistance near the 50/100 SMAs on the four-hour chart as the spot is rebounding from the April’s lows. A break above the above-mentioned level could lead to further advances towards the 1.0970 and 1.1044 price levels while support can be expected near the 1.0885, 1.0839 and 1.0800 levels. 

 

  

Resistance: 1.0920, 1.0970, 1.1044

Support: 1.0885, 1.0839, 1.0800

 

 

Additional key levels

 

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