Technical Analysis: EURUSD bulls look for fresh push amid risk aversion
While keeping upside moves past-200-bar SMA, amid normal RSI, EURUSD bulls suggest further upside beyond 1.1800. However, a downward sloping trend line from Tuesday, near 1.1815, offers an immediate upside hurdle to the mid-1.1800 area. During the pair's extended rise above 1.1850, the October month high of 1.1880 and the 1.1900 round-figures can offer intermediate halts before propelling the quote to the monthly peak near 1.1920. In a case where the EURUSD buyers keep the reins beyond 1.1920, 1.1965 offers an intermediate halt before highlighting the 2.0000 psychological magnet.
On the contrary, an intraday pullback can take rest on 1.1788/85 ahead of battling the confluence of 200-bar SMA and a two-week-old support line, around 1.1765. While MACD flirts with bears, any further weakness below 1.1765 may not hesitate to probe the early-October lows near 1.1684/90. It should, however, be noted that a clear downside below 1.1684 will make the EURUSD vulnerable enough to challenge the monthly low near 1.1600.