EUR/USD: Unable to surpass a key resistance at 1.0840

The EUR/USD pair is unable to advance beyond a key Fibonacci resistance level at 1.0840, as FXStreet’s Chief Analyst Valeria Bednarik notes.

Key quotes

“The 4-hour chart shows that the pair is holding above a flat 20 SMA, although below the larger ones, which maintain modest bearish slopes.”

“The Momentum indicator keeps retreating within positive levels, while the RSI lacks directional strength around 49, offering a neutral stance.”

“Support levels: 1.0770 1.0725 Resistance levels: 1.0840 1.0885”