EUR/USD Price Analysis: Upside momentum fades below 1.1000

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EUR/USD retreats from 1.0996 to currently around 1.0972, down on 0.09% a day, during Wednesday’s Asian session. The pair’s recent pullback takes clues from nearly overbought RSI conditions, coupled with the proximity to important resistance.

That said, the pair can revisit 1.0900 support while 200-bar SMA near 1.0870 could restrict further downside.

If sellers refrain to respect 1.0870 rest-point, a month-old rising support line, at 1.0800 now, could grab the market attention.

On the upside, a sustained break above the falling trend line from May 01, currently near 1.0005, could set the tone for a fresh run-up that challenges a monthly top near 1.1020.

EUR/USD four-hour chart

https://editorial.fxstreet.com/miscelaneous/EURUSD_27052020-637261365857178852.png

Trend: Pullback expected

Additional important levels

Overview
Today last price1.0974
Today Daily Change-8 pips
Today Daily Change %-0.07%
Today daily open1.0982

 

Trends
Daily SMA201.0884
Daily SMA501.0879
Daily SMA1001.0961
Daily SMA2001.1013

 

Levels
Previous Daily High1.0996
Previous Daily Low1.0892
Previous Weekly High1.1009
Previous Weekly Low1.08
Previous Monthly High1.1039
Previous Monthly Low1.0727
Daily Fibonacci 38.2%1.0956
Daily Fibonacci 61.8%1.0932
Daily Pivot Point S11.0918
Daily Pivot Point S21.0854
Daily Pivot Point S31.0815
Daily Pivot Point R11.1021
Daily Pivot Point R21.106
Daily Pivot Point R31.1124