EUR/USD: Mixed picture

EUR/USD has been struggling to recover as Monday's four-hour chart is painting a mixed picture. Yohay Elam, an analyst at FXStreet, examines the pair from a technical perspective.

Key quotes

“EUR/USD is trading above the 100 and 200 Simple Moving Averages on the four-hour chart, yet momentum is to the downside and it is below the 200 SMA, a mixed picture.”

“Support awaits at 1.11, which provided support in early March, followed by 1.1050, which is a robust line after holding the euro up in recent days.”

“Resistance is at 1.1225, the daily high, followed by the 200 SMA at 1.1250.”