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EUR/USD Price Analysis: The first upside target emerges above 1.0850

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EURUSD News

Technical Analysis,Majors

The EUR/USD pair weakends to 1.0820 during the early European trading hours on Friday.

EUR/USD drifts lower near 1.0820 in Friday’s early European session. The bullish outlook of the pair remains intact above the 100-day EMA on the daily timeframe. The immediate resistance level will emerge at 1.0875; the first downside target is seen in the 1.0800-1.0805 zone. The EUR/USD pair weakens to 1.0820 during the early European trading hours on Friday.

0875 acts as an immediate resistance level for the major pair. A break above the latter will see a rally to a high of March 21 at 1.0943 en route to a high of March 8 at 1.0981, andfinallythe 1.1000 psychological level. On the flip side, the first downside target for EUR/USD will emerge at the 1.0800-1.0805 region, portraying the confluence of the 100-day EMA and psychological level. The additional downside filter to watch is a low of April 2 at 1.0724, followed by a low of May 2 at 1.

 

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