The EUR/USD pair extends its downside to 1.0730, the weekly low during the early European session on Tuesday.
EUR/USD faces some sell-off around 1.0730 in Tuesday’s early European session. The major pair holds below the key EMA with an oversold RSI condition. The first downside target is located at 1.0720; the 1.0800–1.0805 region acts as an immediate resistance level. The upbeat US ISM Manufacturing PMI for March lifts the US Dollar and drags the EUR/USD pair lower. Investors will take more cues from Fedspeak later on Tuesday, including Michelle Bowman, Loretta Mester, John Williams, and Mary Daly.
The key contention level will emerge near the confluence of the lower limit of the Bollinger Band and a low of February 13 at 1.0720. Any follow-through selling below the latter will see a drop to a low of November 9, 2023, at 1.0660, followed by a low of November 2, 2023, at 1.0565. On the upside, the 50-period EMA and a high of March 29 at the 1.0800-1.0805 zone act as an immediate resistance level for EUR/USD. The additional upside filter to watch is the 100-period EMA at 1.0822.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Price Analysis: The initial support level is seen at the 1.0800 markThe EUR/USD pair trades on a stronger note below the mid-1.0800s during the early European session on Monday.
Read more »
EUR/USD Price Analysis: Maintains position below the psychological level of 1.0800EUR/USD pares intraday gains, trading higher around 1.0780 during the Asian session on Monday.
Read more »
EUR/USD Price Analysis: Sees downside to 1.0800 amid dismal market sentimentThe EUR/USD pair extends its downside to three-day low around 1.0840 in the late Asian session on Friday.
Read more »
EUR/USD Price Analysis: Holds steady above mid-1.0800s, lacks follow-through ahead of FedThe EUR/USD pair edges higher during the Asian session on Wednesday and for now, seems to have snapped a two-day losing streak to a nearly two-week low, around the 1.0835 region touched the previous day.
Read more »
EUR/USD Price Analysis: Keeps the bearish vibe above 1.0870The EUR/USD pair trades on a negative note during the early European session on Tuesday.
Read more »
EUR/USD Price Analysis: Hovers below the psychological resistance of 1.0900EUR/USD edges lower to near 1.0890 during the Asian market hours on Monday.
Read more »