EURUSD seems indecisive about whether to advance to the 0.618 retracement at 1.0777, currently hovering around the 0.382 retracement near 1.07.
The daily RSI has closed above its falling trendline, suggesting that EURUSD may climb higher, possibly up to the 0.7896 retracement at 1.0825.
However, the declining 55 and 200 daily Moving Averages may pose resistance.
If EURUSD breaches Friday's low at 1.0673, the downtrend is likely to resume with a bearish push towards 1.05.
The daily RSI has closed above its falling trendline, suggesting that EURUSD may climb higher, possibly up to the 0.7896 retracement at 1.0825.
However, the declining 55 and 200 daily Moving Averages may pose resistance.
If EURUSD breaches Friday's low at 1.0673, the downtrend is likely to resume with a bearish push towards 1.05.