EUR/USD Price Analysis: Bulls stepping up at critical support

• EUR/USD bulls in play from key support on the monthly time frame.
• Lower time frames depict the bullish outlook on a break of the hourly 10 SMA for the open.

EUR/USD is decelerating in its current bearish impulse and the upside is compelling from support. 

The following illustrates the playbook.

Monthly chart

Price has reached a 61.8% Fibonacci retracement at monthly support. 

Weekly chart

The weekly depicts the outlook as well. 

Daily chart 

However, from a daily perspective, there is resistance to be concerned for. This offers a confluence of the 50% mean reversion and prior lows. 

4-hour chart

The 4-hour 10 SMA is a firm target in confluence with the daily chart's resistance. 

1-hour chart

The 1-hour time frame remains bearish but from support, the price can take out the 10-moving average and head towards resistance.