EUR/USD PRICE ANALYSIS: BULLS EYE 1.0930 KEY UPSIDE HURDLE

EUR/USD holds onto the week-start strength as bulls approach the all-important 1.0930 resistance, around 1.0910 by the press time of early Tuesday.

In doing so, the Euro pair justifies the bullish MACD signals and the upward-sloping RSI (14) line, not overbought.

Adding strength to the upside bias is the Euro pair’s successful trading beyond the convergence of the 21-DMA and the 50-DMA, around 1.0730-25 by the press time.

As a result, the EUR/USD buyers are likely to overcome the key resistance area comprising multiple levels marked since late January 2023.

Following that the Year-To-Date (YTD) high of 1.1033 may act as an extra filter towards the north before directing the EUR/USD bulls to the 61.8% Fibonacci Expansion (FE) of its November 2022 to March 2023 moves, near 1.1190.

It should be noted that the 1.000 psychological magnet may also check the Euro pair buyers.

Meanwhile, a downside break of the aforementioned DMA confluence, near 1.0730-25, isn’t an open invitation to the EUR/USD bears as an ascending support line from September 2022, close to1.0630 at the latest, could act as the last defense of the buyers.

In a case where the Euro pair remains below 1.0630, its slump to the previous monthly low of 1.0548 can’t be ruled out.