HomeContributorsTechnical AnalysisEURUSD Tests 200 SMA Support Ahead Of US ISM Data

EURUSD Tests 200 SMA Support Ahead Of US ISM Data

EUR/USD has seen a substantial retracement since March 27, after testing the significant resistance level at 1.0900.

The price has been trading below the 10 SMA since then, indicating the upside selling pressure is still heavy.

On the 4-hourly chart, the price has been holding above the 200 SMA since March 31, where there is stronger support.

The daily Stochastic Oscillator reading is below 10, suggesting a rebound.

The resistance level is at 1.0670, followed by 1.0685 and 1.0700.
The support line is at 1.0650, followed by 1.0630 and 1.0600.

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading