• EUR/USD is hovering near the 1.0800 mark after the European trading session wrapped up, essentially going nowhere fast within Tuesday’s range.
• The momentum indicators are giving us a mixed bag of signals. We’re seeing some short-term bearish vibes, but it’s butting up against longer-term bullish trendlines that are still in play.
• Keep an eye out for potential support around 1.0777 and then 1.0730, while overhead resistance seems to be hanging around the 1.0810–1.0815 ballpark.

The EUR/USD pair took a breather in Tuesday’s session after Europe closed up shop for the day, settling back near the 1.0800 level. Even with this slight dip, the pair isn’t really straying from its intraday movements as traders try to make sense of the conflicting signals from the technical charts. Overall, price action feels pretty neutral, as some short-term weakness is bumping into more significant bullish support that’s been building in the background.

Daily chart

When we look at the technical indicators, it’s still a bit of a puzzle. The Relative Strength Index (RSI) is sitting in neutral territory at 56, while the Moving Average Convergence Divergence (MACD) is hinting at a slightly bearish picture, suggesting it’s struggling to find upward momentum right now. The Bull Bear Power is close to zero, and the Average Directional Index (ADX) at 25.7 also points towards a market that’s not really trending strongly in either direction. All these mixed messages seem to reflect the sideways shuffle EUR/USD is experiencing at the moment.

Turning to moving averages, the 20-day Simple Moving Average (SMA) at 1.0839 is acting as an immediate ceiling overhead, reinforcing the feeling of a bit of short-term bearish pressure. However, if we zoom out a bit to longer-term indicators like the 100-day SMA at 1.0520 and the 200-day SMA at 1.0731, they’re still suggesting that the bigger picture uptrend is intact. Even the Ichimoku Base Line at 1.0657 is staying neutral, further highlighting the current lack of clear direction in market momentum.

Looking ahead, the levels to watch for potential support are around 1.0777, followed by 1.0731, and then 1.0729. If we see a move to the upside, resistance seems to be clustered around 1.0811, 1.0812, and 1.0815. A decisive move in either direction from this current range could very well set the stage for the pair’s next move.