Source: PaxForex Premium Analytics Portal, Technical Insight
EUR/USD dribbles between 1.0720 and 1.0745 so far during early Tuesday as traders await more clues to extend the latest north-run. In doing so, the major currency pair seesaws around the highest levels since June 2022 as bulls run out of steam as the US Dollar rebounds on doubts over the previous risk-on mood, as well as due to a rebound in the US Treasury yields.
EUR/USD,D1
Pivot: 1.0729
Analysis:
While the price is above 1.0600, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0729
- Take Profit 1: 1.0800
- Take Profit 2: 1.0900
Alternative scenario:
If the level 1.0600 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0600
- Take Profit 1: 1.0465
- Take Profit 2: 1.0370
Comment:
RSI shows the development of an uptrend in the medium term
| Resistance | Support |
| 1.1000 | 1.0600 |
| 1.0900 | 1.0465 |
| 1.0800 | 1.0370 |
