The EUR/USD is holding onto daily gains, facing resistance at 1.1000, not only a round number, but also where the 20-Simple Moving Average stands in four-hour charts. A recovery above should add support to the euro, exposing the next resistance at 1.1035. Above the following resistance levels might be seen at 1.1070 and 1.1095.
If the pair fails to recover 1.1000 over the next hours, a potential decline back to 1.0935 should be considered. The area also contains the 20-hour SMA. Below attention would turn to 1.0895/1.0900, below the bearish pressure should intensify.
If the pair fails to recover 1.1000 over the next hours, a potential decline back to 1.0935 should be considered. The area also contains the 20-hour SMA. Below attention would turn to 1.0895/1.0900, below the bearish pressure should intensify.