EUR/USD climbed toward 1.1000 during the European trading hours but seems to have lost its bullish momentum. The pair is clinging to modest daily gains near 1.0950 as investors remain cautious while assessing the latest headlines surrounding the Russia-Ukraine conflict.
EUR/USD met resistance at 1.0940 (Fibonacci 23.6% retracement of the latest downtrend) during the Asian session on Monday. In case the pair rises above that level and starts using it as support, additional gains toward 1.0970 (50-period SMA on the four-hour chart) and 1.1000 (psychological level, Fibonacci 38.2% retracement) could be witnessed.
On the other hand, 1.0900 (psychological level, static level) aligns as the first support before 1.0850 (static level) and 1.0800/05 (psychological level, March 7 low).
On a bearish note, the Relative Strength Index (RSI) indicator on the four-hour chart is staying below 50, suggesting that buyers are yet to dominate the pair's action.