EUR/USD PRICE ANALYSIS: 10-DMA PRODS INTRADAY SELLERS, 1.0850 IS THE LAST DEFENSE FOR BULLS

EUR/USD remains indecisive around 1.0920, recently bouncing off the intraday low to pare the latest losses amid early Monday.

In doing so, the Euro pair portrays a U-turn from the 10-DMA support while defending the previous week’s hesitance in breaking the key horizontal hurdle from late January, around 1.0930. Even so, the EUR/USD pair remains sidelined after positing a three-week uptrend in the last.

Apart from the Euro pair’s inability to cross the 1.0930 hurdle, the receding bullish bias of the MACD and the RSI (14) line’s retreat also suggest a pullback in the EUR/USD price.

However, a daily closing below the 10-DMA support of 1.0890 becomes necessary for the intraday sellers of the pair. Following that, an upward-sloping support line from March 24, near 1.0850, becomes the last defense of the EUR/USD bulls.