EUR/USD pressured around 1.08 as dollar attempts recovery

The EUR/USD pair has retreated from the mentioned high and is currently trading below the 23.6% retracement of its latest daily slump at 1.0840. The 4-hour chart shows that the price remains above a mild-bearish 20 SMA, although well below the 100 and 200 SMA. Technical indicators, in the meantime, remain within positive levels but losing bullish strength. Given the upbeat sentiment, chances of a downward move are limited. 1.0800 is the immediate support while bulls make give it another try on an extension beyond the mentioned daily high.

Support levels: 1.0725 1.0690 1.0650

Resistance levels: 1.0840 1.0885 1.0920