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EUR/USD could revisit the eight-week high at 1.0756.
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Euro could gain ground as the MACD line shows divergence above the signal line.
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A break below the psychological support at 1.0700 could push the pair to go under the region near mid-1.0600.
EUR/USD lost ground for a second straight day, trading lower around 1.0710, aligned with psychological support levels at 1.0700 during the Asian session on Tuesday.
A firm break below the latter could motivate the EUR/USD pair to navigate the bearish support zone near the 1.0600 mid-level and the 14-day exponential moving average (EMA) at the 1.0631 level.
However, dovish comments from European Central Bank (ECB) President Christine Lagarde over the weekend could help limit the downside for the EUR/USD pair.
The EUR/USD pair may gain upward momentum considering the 14-day Relative Strength Index (RSI) standing above the 50 level. It indicates bullish momentum and reflects a bias towards a strong market sentiment.
The Moving Average Convergence Divergence (MACD) line is positioned above the centerline and shows divergence above the signal line indicating a possible bullish momentum. Bulls could support the EUR/USD pair to revisit the eight-week high marked at 1.0764 level after the 38.2% Fibonacci retracement at 1.0756.
EUR/USD: Daily Chart
