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EUR/USD Price Analysis: Bulls attack 1.0520 barrier with 200-day SMA in view

Alina Haynes

Jun 21, 2022 11:26

截屏2022-06-21 上午9.39.57.png 

 

During Tuesday's Asian session, EUR/USD buyers extend the week-beginning surge to 1.0520 against an eight-day-old resistance line.

 

Bullish MACD signals tend to keep EUR/USD investors upbeat. However, Friday's earlier support line at 1.0540 acts as an additional filter to the north.

 

The 200-week simple moving average (SMA) between 1.0585-90 and the previous weekly high near the 1.0600 barrier also pose a challenge to purchasers of the key currency pairings.

 

In the event that EUR/USD buyers are able to retain control beyond 1.0600, the June 10 high around 1.0640 will be the final line of defense for selling before they return to the area above 1.0700 on the chart.

 

Alternately, corrective swings are problematic until the price remains above a trend line with an upward slope from June 15, roughly 1.0450. Friday's low around 1.0440 adds more support to keep an eye on.

 

Should EUR/USD bears breach the 1.0440 support, it is not unthinkable to witness a slide to the yearly low of 1.0360.


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