By the middle of the day's GMT trading hours, the pair had reached above a technical resistance cluster at 1.1910/1.1930.
Economic Calendar Analysis
Notable macroeconomic events will start on Wednesday. From 08:15 up to 09:00 the Markit Services and Manufacturing Purchasing Managers Indices would be released.
At 08:15 GMT the French PMIS could cause a move from 9.0 to 15.0 pips. At 08:30 GMT the German PMIs will be published. The German indices have caused moves from 10.4 to 41.5 pips since October 23.
Later on at 09:00 GMT, the Euro Zone PMIs are scheduled to be published. These data sets have caused minor moves from 7.0 to 13.0 pips.
On the same day, at 13:45 GMT the US Services and Manufacturing PMIS could cause moves from 6.7 to 26.4 pips.
On Thursday, the week will end for EUR/USD macro events, as the US Final GDP is set to be released on that day at 12:30 GMT. The event has caused moves from 6.4 to 31.9 pips since December 2019.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
EUR/USD hourly chart's review
Next up, the rate faced a resistance zone that was located at 1.1935/1.1940. If this resistance cluster holds, the pair could look for support in the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.1910/1.1930. If the technical levels don't provide support, the EUR/USD could aim at 1.1875/1.1885.On the other hand, if the 1.1935/1.1940 zone does not provide resistance, the pair could reach for the weekly R1 simple pivot point at 1.1971.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair can be observed to be trading between the 1.2000 and 1.1900 levels. In the meantime, it has close by the support of the 200-day SMA and the resistance of the 100-day simple moving average.Daily chart
Read More: Technical Analysis
Sentiment remains long
Since Wednesday, on the Swiss Foreign Exchange trader open positions were bullish, as 57% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair on Monday were 52% to sell the pair.