Thursday, October 15, 2026

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FxWirePro: EURUSD faces strong resistance at 1.0706, break above targets 1.0800

Major support – 1.06365 (Trend line joining 1.04971 and 1.05250). Major intraday resistance – 1.0706 (21- day EMA). Pattern formed – Bullish Divergence (RSI&MACD). EUR/USD shown a slight jump after declining till 1.06348…

By FxWirePro Team
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FxWirePro: EURUSD faces strong resistance at 1.0706, break above targets 1.0800
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  • Major support – 1.06365 (Trend line joining 1.04971 and 1.05250).
     
  • Major intraday resistance – 1.0706 (21- day EMA).
     
  • Pattern formed – Bullish Divergence (RSI&MACD).
     
  • EUR/USD shown a slight jump after declining till 1.06348 yesterday.  Short term bias is on the downside and minor reversal can happen above 1.07060.
     
  • The pair has formed Bullish Divergence in the hourly chart and the slight bullishness can be confirmed only after breaking above 1.07060 level.
     
  • On the lower side, any break below 1.06350 will drag the pair till 1.0600/1.05250 (Mar 9th 2017 low)/1.04940 (Mar 2nd low).
     
  • The near term resistance is around 1.0706 (21- day EMA) and any break above will take the pair to next level till 1.07450/1.07800. Short term bearish invalidation only above 1.09058.

    It is good to buy above 1.07060 with SL around 1.06600 for the TP of 1.0800.

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By FxWirePro Team