On a four-hour chart, the EURUSD currency pair is currently trading at 1.08106 and remains below both the 50-day and 100-day Exponential Moving Averages (EMAs).

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• EUR/USD holds below the 50- and 100-day EMAs on a four-hour chart.

The pair currently trades last at 1.08106.

The previous day high was 1.0822 while the previous day low was 1.0794. The daily 38.2% Fib levels comes at 1.0811, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0805, expected to provide support.

The EUR/USD pair recovers some lost ground but the upside seem limited during the early European session on Tuesday. The major pair currently trades near 1.0816, losing 0.03% on the day. The odds of additional interest rate hikes by the Federal Reserve (Fed) lift US bond yields and limit USD losses.

According to the four-hour chart, the major pair holds below the 50- and 100-day Exponential Moving Averages (EMAs), implying the path of least resistance for the EUR/USD is to the downside. Adding to this, the Relative Strength Index (RSI) remains below 50, supporting EUR/USD sellers for now.

The immediate resistance level for EUR/USD appears at 1.0845-1.0850 region, representing a confluence of the 50-hour EMA and the upper boundary of the Bollinger Band. Further north, the pair will challenge the next hurdle at 1.0890 (100-hour EMA).

Any meaningful follow-through buying beyond the latter could pave the way to the next barrier at 1.0930 (a high of August 22) en route to 1.1000 (a psychological round mark, a high of August 8)and finally at 1.1065 (a high of August 10).

On the flip side, the key support level to watch is 1.0800, portraying a psychological round mark and a low of August 23. The additional downside stop is near the limit of the Bollinger Band and a low of August 25 at the 1.0765-1.0770 region. A decisive break below the latter would fuel a drop towards 1.0735 (a low of June 12) and 1.0675 (a low of June 6).

Technical Levels: Supports and Resistances

EURUSD currently trading at 1.0818 at the time of writing. Pair opened at 1.0819 and is trading with a change of -0.01 % .

The pair is trading below its 20 Daily moving average @ 1.091, below its 50 Daily moving average @ 1.0975 , below its 100 Daily moving average @ 1.0927 and above its 200 Daily moving average @ 1.0806

The previous day high was 1.0822 while the previous day low was 1.0794. The daily 38.2% Fib levels comes at 1.0811, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0805, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 1.0801, 1.0783, 1.0772
• Pivot resistance is noted at 1.083, 1.084, 1.0859

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