EUR/USD Price Analysis: Hovers Above 1.0900 On ECB Lagarde’s Hawkish Comments


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  • EUR/USD strengthened as ECB President Lagarde stated that it is premature to declare victory over inflation.
  • The pair could re-attempt to reach the 1.1000 psychological level as technical indicators support the upward trend.
  • The psychological level at 1.0900 acts as the immediate support backed by the seven-day EMA at 1.0874.
  • EUR/USD attempts to recover its losses recorded in the previous session, trading slightly higher around 1.0910 during the Asian session on Wednesday. The European Central Bank (ECB) President Christine Lagarde’s hawkish statements overnight provide some support for the EUR/USD pair.President Lagarde stated at a Berlin event that it is too early to declare victory over inflation and that bets based on short-term data flow are premature.The technical indicators for the EUR/USD pair support the current upward trend. The 14-day Relative Strength Index (RSI) above 50 indicates bullish sentiment, indicating that the pair is gaining momentum.Furthermore, the Moving Average Convergence Divergence (MACD) line is above the centerline, with divergence above the signal line, indicating that the EUR/USD pair could re-attempt to target the barrier at the 1.1000 psychological level, following August’s high at 1.1064.On the downside, the psychological level at 1.0900 emerges as the immediate support, following the seven-day Exponential Moving Average (EMA) at 1.0874 followed by the next major level at 1.0850. A decisive break below the level could put pressure on the EUR/USD pair to navigate the region around the 23.6% Fibonacci retracement at 1.0841.EUR/USD: Daily Chart EUR/USD: MORE TECHNICAL LEVELS TO WATCH

    OVERVIEW Today last price 1.0912 Today Daily Change 0.0000 Today Daily Change % 0.00 Today daily open 1.0912

     

    TRENDS Daily SMA20 1.0716 Daily SMA50 1.064 Daily SMA100 1.0792 Daily SMA200 1.0807

     

    LEVELS Previous Daily High 1.0965 Previous Daily Low 1.09 Previous Weekly High 1.0909 Previous Weekly Low 1.0665 Previous Monthly High 1.0695 Previous Monthly Low 1.0448 Daily Fibonacci 38.2% 1.0925 Daily Fibonacci 61.8% 1.094 Daily Pivot Point S1 1.0886 Daily Pivot Point S2 1.0861 Daily Pivot Point S3 1.0821 Daily Pivot Point R1 1.0951 Daily Pivot Point R2 1.0991 Daily Pivot Point R3 1.1016

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