EUR/USD: Critical support saved for the moment

EUR/USD Tuesday's four-hour chart is showing how the pair escaped critical support for now, Yohay Elam, an analyst at FXStreet, informs.

Key quotes

“EUR/USD has bounced above 1.0890, which was a stubborn cap several times in late April, and its defended by the 100 and 200 Simple Moving Averages, which await around 1.0880. That critical level is now in danger.”

“Below 1.0890, the next level to watch is 1.0860, which capped EUR/USD on the way up in late April, and by 1.0810, a support line from earlier last month.” 

“Resistance is at 1.0930, a temporary support line on Monday, followed by 1.0970, a swing high on the way up.”