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EUR/USD recovered modestly ahead of the American session on Tuesday but seems to be having a difficult time gathering bullish momentum. With the 10-year US Treasury bond yield rising to 1.95%, the US Dollar Index is clinging to modest gains above 95.60 and weighing on EUR/USD.
From a technical point of view, the latest EUR/USD slide seems corrective, as the pair met near-term buyers around the 23.6% retracement of its 1.1154/1.1483 rally at 1.1397. Technical readings in the daily chart suggest that the pair is losing bullish momentum but is still far from turning bearish. EUR/USD is still stuck around a mildly bearish 100 SMA, while above the 20 SMA, which converges with the next Fibonacci level at 1.1340. Meanwhile, technical indicators have turned marginally lower within positive levels.
The near-term picture, however, hints at mounting bearish pressure. The pair has broken below its 20 SMA, which now provides intraday resistance, as technical indicators slide, the Momentum already within negative levels, and the RSI currently at around 53. A break through the daily low should favor a bearish extension toward the 1.1300 region, while further declines could extend to 1.1260, the 61.8% retracement of the aforementioned advance.
Support levels: 1.1395 1.1340 1.1305
Resistance levels: 1.1440 1.1485 1.1520
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
