- The EUR/USD quotes near the 1,1400 zone after slight European post-session losses
- The moment indicators offer mixed signals; The price action is still backed by important mobile socks
- Support seen in 1,1330 and 1,1100 while the bulls point to the area of 1,1420
The EUR/USD torque showed a slight descent in Monday’s session after the European closure, although he continued around the 1,1400 region. Despite the slight setback, the torque maintained its general bullish structure, remaining well within the upper half of the daily range between 1,12956 and 1,14242.
From a technical perspective, the relative force index (RSI) marks 76, suggesting that the torque is in overcompra territory. However, the MACD maintains a bullish position with a purchase signal, pointing to a underlying positive impulse. In contrast, the raw material channel index (20) in 231.17 issues a sales warning, while the average directional index (14) in 41.01 does not offer directional bias.
Below the surface, mobile socks continue to anchor the upward feeling. The 10 -day exponential mobile average in 1,10918 and the simple mobile average of 10 days in 1,10382 both are inclined to rise, aligning with the simple mobile socks of 20 days (1,09333), 100 days (1,05647) and 200 days (1,07456), which all indicate a strong ascending impulse in the medium in the long term.
As for the levels, the key support is found in 1,13347, followed by 1,1103 and 1,10918. The immediate resistance is observed around the area of 1,1420, with a greater rise that will probably face psychological barriers about 1,1450 and beyond, if the bulls maintain control.
Daily graph
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
