- EUR / USD struggled to extend Friday’s recovery moves.
- A three-day bearish trend line adds to the resistance.
- The April low will attract sellers below the triangle break.
EUR / USD fell to 1.0815 during Monday morning’s trading session. In doing so, the quote remains depressed below 200-HMA while remaining within a short-term triangle formation.
Although the pair’s immediate failure to cross 200-HMA is dragging it towards the 1.0800 mark, training support, at 1.0775 now, will keep sellers in check.
In the event of a clear break below 1.0775, the April low around 1.0730 / 25 will be the bear favorite.
On the contrary, an upside break in the 200-HMA level of 1.0823 will push the pair towards a three-day old resistance line, at 1.0840 now.
However, the further rise of the pair beyond 1.0840 will be hampered by the resistance line of the said triangle near 1.0860.
EUR / USD time graph