EUR/USD: Bears minor advantage could be wiped out easily

EUR/USD Monday's technical chart is marginally bearish, as FXStreet’s analyst Yohay Elam notes.

Key quotes

“EUR/USD is trading below the 50, 100, and 200 Simple Moving Averages on the four-hour chart, a bearish sign. However, all these lines are within 30 pips, and the pair could easily pass them.”

“Support awaits at 1.0810, which was a low point on Friday. It is followed by 1.0770, Thursday's swing low, and also a support line in April.” 

“Resistance is at 1.0855, where the 100 SMA hits the price, and then by 1.0875, a swing high which also converges with the 200 SMA. The stubborn resistance line of 1.0890 is critical resistance.”