The EURUSD is trading below 1.0000 (psychological level). Last week, ECB increased the policy rate 75bps as widely expected. But, there is no explanation when the tightening will start. Thus, the investors bias turns negative. Still, the recession expectation in EU is on the agenda. Yet, the discourses of slower rates hike for FED keep buyers hopeful.
Technically, above 0.9925 level (21DMA) the momentum is positive for the EURUSD. Also, the daily stochastic indicator turns back overbought condition. Resistance is seen at 1.0000. More upside, resistance is around 1.0180. The support for the pair is first at 0.9925, before then at 0.9845.
Support: 0.9925 – 0.9845 – 0.9755
Resistance: 1.0000 – 1.0095 – 1.0185