During Monday’s Asian session, EUR/USD remained above the psychological 1.0800 level. Due to European Central Bank (ECB) policymakers defending their hawkish posture at the Jackson Hole Symposium, the pair experiences upward pressure.

Christine Lagarde, president of the ECB, emphasized the significance of establishing interest rates at a sufficiently restrictive level for an extended period to ensure the expeditious achievement of the medium-term inflation target of 2%.

Near the weekly low at 1.0765 and the psychological level of 1.0750, the pair might find immediate support.

The nine-day Exponential Moving Average (EMA) at 1.0847 appears to be the primary resistance on the upside. A breach above this level might lead the EUR/USD pair to look into the area near the 14-day exponential moving average at 1.0874 and then the psychological 1.0900 level.

The 14-day relative strength index (RSI) remains below 50, indicating that EUR/USD speculators are bearish. The Moving Average Convergence Divergence (MACD) line remains below the centerline and diverges below the signal line, indicating that momentum has weakened recently.

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