The EUR/USD pair experienced a slight retracement towards the 1.0900 level on Monday, following an earlier test of higher levels. Despite this intraday decline, the overall technical outlook remains positive, underpinned by supportive moving averages. Key support is identified in the 1.0860-1.0880 range, while resistance is anticipated near 1.0996. Post-European market close, short-term technical indicators presented mixed signals. Daily momentum readings suggest potential near-term caution, with the Moving Average Convergence Divergence (MACD) indicating a sell signal, suggesting a possible deceleration in upward momentum. The Relative Strength Index (RSI) registered at 57.85, reflecting a neutral stance. Similarly, the Commodity Channel Index (CCI) at 92.64 and Bull Bear Power at 0.02 exhibited flat readings, indicating market indecision.
