EUR/USD at the 1.3800 level.

[honeill]

On Tuesday session, the EURUSD dived with a narrow range and closed near the low of the day, however, managed to close within Mondays’ range, which suggests being slightly on the bearish side of neutral.

The currency pair is trading above the 10 and the 50-day moving averages and both should act as dynamic supports nonetheless is still trading below the 200-day moving average that should provide a dynamic resistance.

The key levels to watch: a daily resistance at 1.1555, a daily resistance at 1.1459, the 10-day moving average at 1.1423 (support), the 50-day moving average at 1.1376 (support), October low at 1.1302 (support), a daily support 1.1236 and 2018 low at 1.1214 (support).

 

[fxstrategist]

The EURUSD rises steadily above the 1.1400 level and the 55 day EMA to the 1.1438 level where it loses some of its momentum. The pair may try to pull back below the 1.1400 level.

 

[fxstrategist]

Nice rally on the EURUSD to the 1.1500 level from where it may bounce to the downside, maybe back to the 1.1400 level where we can also find the 55 day EMA. To the upside, in case of a bullish breakout, the 200 day EMA at the 1.1527 level could be its next resistance.