EUR/USD Price Analysis: Euro regains some poise, trades above 1.0850 level

  

 

EUR/USD is trading below the main SMAs on the daily chart as the spot stays within familiar ranges seen in March and February. 

 

 

The fiber is trading below its main SMAs on the four-hour chart suggesting a negative bias in the medium term. However the spot is rebounding from near the 1.0800 figure and is now challenging the 1.0884 resistance at press time. A daily close above this level can lead to further advances towards the 1.0920 and 1.0970 resistance levels, according to the Technical Confluences Indicator. Meanwhile, immediate support can be expected near the 1.0845 and 1.0820 levels