The EURUSD is maintaining slight increases at its highest point in a month, having risen for four days straight. However, limited potential for further gains is predicted by @nehcap.

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• EUR/USD clings to mild gains at the highest level in a month, up for the fourth consecutive day.

The pair currently trades last at 1.08281.

The previous day high was 1.0864 while the previous day low was 1.0774. The daily 38.2% Fib levels comes at 1.083, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0808, expected to provide support.

EUR/USD stays on the front foot for the fourth consecutive day, mildly bid near 1.0840 by the press time, as it braces for the key European Central Bank (ECB) monetary policy meeting on early Thursday.

That said, hawkish expectations from the ECB join the Euro pair’s upside break of the 100-DMA to keep the buyers hopeful. Also adding strength to the upside bias are the bullish MACD signals and the firmer RSI (14) line, not overbought.

Also read: EUR/USD stays bullish above 1.0800 on Fed’s hawkish halt, ECB eyed

Hence, EUR/USD bulls are all set to prod 1.0860 resistance comprising 38.2% Fibonacci retracement of its January-April upside, as well as the April 10 swing low.

However, the 50-DMA hurdle of around 1.0875 and multiple levels marked since late January around 1.0930 can challenge the EUR/USD bulls afterward.

In a case where the EUR/USD pair remains firmer past 1.0930, the 1.1000 round figure and February’s peak of 1.1033 will be in the spotlight.

On the contrary, a daily closing below the 100-DMA resistance-turned-support, around 1.0800 by the press time, isn’t an open invitation to the Euro bears as a convergence of a one-week-old rising trend line and 50% Fibonacci retracement challenges the downside near 1.0790.

Should the EUR/USD bears dominate past 1.0790, the odds of witnessing the Euro pair’s further fall towards the 61.8% Fibonacci retracement and an upward-sloping support line from January, close to 1.0715 and 1.0650 in that order, can’t be ruled out.

Trend: Limited upside expected

Technical Levels: Supports and Resistances

EURUSD currently trading at 1.0838 at the time of writing. Pair opened at 1.0828 and is trading with a change of 0.09% % .

The pair is trading above its 20 Daily moving average @ 1.0749, below its 50 Daily moving average @ 1.0878 , above its 100 Daily moving average @ 1.0806 and above its 200 Daily moving average @ 1.0533

The previous day high was 1.0864 while the previous day low was 1.0774. The daily 38.2% Fib levels comes at 1.083, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0808, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 1.078, 1.0732, 1.069
• Pivot resistance is noted at 1.087, 1.0912, 1.0961

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