Mon, Jun 05, 2023 @ 07:29 GMT
HomeContributorsTechnical AnalysisEUR/USD: Bullish Bias Above 10DMA

EUR/USD: Bullish Bias Above 10DMA

The Euro remains constructive but holding within a narrow range for the third straight day, on Easter-holiday thinned market.

The price action continues to hold above rising 10DMA (1.0892), keeping bullish bias for retest of last week’s top (1.0973) and attack at psychological 1.10 barrier, which guards key resistance at 1.1032 (2023 high, posted on Feb 2).

Technical studies on daily chart are mixed, with moving averages in full bullish setup and positive momentum fading, which lacks clearer direction signal.

Immediate focus is expected to remain at the upside while the price stays above 10DMA, with extended dips to be contained at 1.0800 zone, to keep bulls intact.

Conversely, loss of 1.08 handle would weaken near-term structure and risk test of pivotal supports at 1.0757/13 (daily Ichimoku cloud top / Mar 24 higher low).

Res: 1.0973; 1.1000; 1.1020; 1.1032.
Sup: 1.0892; 1.0811; 1.0788; 1.0757.

Windsor Brokers Ltd
Windsor Brokers Ltd
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