- EUR/USD edges higher on Monday, trading near the 1.0500 mark.
- The RSI inches up to 43 but stays in negative territory, reflecting a weak recovery.
- The MACD histogram shows increasing green bars, but the pair struggles to clear the 20-day SMA.
The EUR/USD pair posted a mild recovery on Monday, edging above the 1.0500 level after rebounding from recent lows. While it approached the 20-day Simple Moving Average (SMA) near 1.0520, the pair failed to break through this key resistance, keeping the outlook cautious.
Technical indicators show tentative improvement but remain bearish overall. The Relative Strength Index (RSI) has risen to 43, indicating slight buying interest, though it remains in negative territory. Similarly, the MACD histogram is printing rising green bars, hinting at stabilizing momentum. However, the pair’s repeated inability to clear the 20-day SMA undermines any sustained bullish momentum.
A decisive break above the 20-day SMA near 1.0520 is needed to shift sentiment toward the upside. Until then, the bias remains bearish, with immediate support at the psychological 1.0500 level, followed by 1.0480. A break below these levels could accelerate losses, reinforcing the downside trend.
EUR/USD daily chart
