EUR/USD Price Analysis: Tests The Upper Boundary Around The Level Of 1.0800


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  • EUR/USD could test the upper boundary of the symmetrical triangle.
  • Breaking above the upper boundary could potentially shift momentum toward a bullish trend.
  • A breach below the 14-day EMA at 1.0752 could prompt the pair to test the psychological threshold of 1.0700.
  • EUR/USD has recovered its recent gains registered in the previous session, trading around 1.0780 during the Asian session on Tuesday. From a technical perspective, analysis indicates a sideways trend for the pair as it continues to lie within the symmetrical triangle. A surpassing of the upper boundary could shift the momentum toward a bullish trend.However, the momentum indicator Moving Average Convergence Divergence (MACD) indicates an upward momentum for the EUR/USD pair. While it is positioned above the centerline, there is a divergence observed above the signal line. If the signal line crosses over the centerline, it would reinforce the bullish sentiment.The EUR/USD pair faces an immediate barrier at the upper boundary of the symmetrical triangle aligned with the psychological level of 1.0800. A break above this level could support the pair to test April’s high of 1.0885.On the downside, key support for the EUR/USD pair is anticipated around the 14-day Exponential Moving Average (EMA) at 1.0752. A break below the latter could lead the pair to navigate the region around the psychological threshold of 1.0700, coinciding with the lower boundary of the symmetrical triangle around the level of 1.0690. Further support levels may emerge around April’s low at 1.0601.

    EUR/USD: Daily Chart
     

    EUR/USD
     

    OVERVIEW Today last price 1.0785 Today Daily Change -0.0005 Today Daily Change % -0.05 Today daily open 1.079

     

    TRENDS Daily SMA20 1.0714 Daily SMA50 1.0787 Daily SMA100 1.0828 Daily SMA200 1.0791

     

    LEVELS Previous Daily High 1.0807 Previous Daily Low 1.0766 Previous Weekly High 1.0791 Previous Weekly Low 1.0724 Previous Monthly High 1.0885 Previous Monthly Low 1.0601 Daily Fibonacci 38.2% 1.0791 Daily Fibonacci 61.8% 1.0782 Daily Pivot Point S1 1.0768 Daily Pivot Point S2 1.0747 Daily Pivot Point S3 1.0727 Daily Pivot Point R1 1.0809 Daily Pivot Point R2 1.0828 Daily Pivot Point R3 1.085

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