EUR/USD Price Analysis: Holds onto recovery gains above 1.0800

• EUR/USD extends bounce from 13-day-old support line, probes 21-day SMA.
• The month-start low and 100-day SMA can challenge buyers.
• April bottom could please the bears below stated support trend line.

EUR/USD rises to 1.0856, up 0.08% on a day, amid the Asian session on Wednesday. The pair bounced off a short-term support line on Tuesday while confronting 21-day SMA by the press time.

Given the positive MACD signals, EUR/USD prices are likely to extend the recoveries towards the month-start low near 1.0935.

During the pair’s additional rise past-1.0935, 100-day SMA and the monthly top, respectively around 1.0985 and 1.1020 can please the buyers.

On the downside, pair’s declines below the support line stretched from April 24, at 1.0785, can recall the April month trough surrounding 1.0725.

EUR/USD daily chart

Trend: Further recovery expected