EUR/USD Price Analysis: Euro bounces and challenges 1.0900 figure

 

 

EUR/USD is rebounding from the 1.0800 figure while trading below its main DMA (daily simple moving average) as DXY (US dollar index) is losing steam this Tuesday.

 

 

EUR/USD is challenging the 1.0920 resistance near the 50/100 SMAs on the four-hour chart as the spot is rebounding from the April’s lows. A break above the above-mentioned level could lead to further advances towards the 1.0970 and 1.1044 price levels while support can be expected near the 1.0885, 1.0839 and 1.0800 levels.