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EUR/USD Appears as an Intraday Gainer as it Spikes Above 1.084

EUR/USD draws a positive crossover as it retains support from 50-day and 200-day daily moving averages and has managed to stay above 38.20% Fib Retracement level since the start of the day, today. 1.089 is posing as the strong weekly resistance and has drawn a continual uptrend over the past five days against the greenback. In the intraday, the pair has right moved above 1.087 while current trades at 1.086 in the global market.

Technical Analysis: EUR/USD

EUR/USD Technical Analysis
EUR/USD Chart By TradingView

On the intraday chart, Euro is seen strengthening against the American Dollar after a slow yet steady uptrend over the past five days. Yesterday, the pair broke through the 4-day resistance after retesting the monthly support at 1.072. Having said that, the pair has gained steady support from daily MAs as well around 1.083 on a daily basis. On the intraday chart, Euro has been trading above 38.20% Fib Retracement level to a major extent against the US Dollar.

The MACD is drawing a bullish divergence as the candlestick took a positive turn from trading around 1.084 to 1.087 with a moderate to low volatility. The RSI of the coin is at 65.06 and is hitting around the overbought zone after rising above 1.084 in the Asian trading hours.

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

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