EUR/USD Price Analysis: A move to 1.1640 is not ruled out

EUR/USD adds to recent gains and surpasses 1.1600.
Further up is located the monthly high at 1.1640.

Pablo Piovano FXStreet

EUR/USD advances for the second straight session and leaves behind the key 1.1600 barrier on Thursday.

Further recovery is expected to meet the interim hurdle at the 20-day SMA at 1.1631 ahead of the monthly peak at 1.1640 (October 4). The break above this area should meet the next target at the 55-day SMA, today at 1.1732 followed by the late-September tops in the mid-1.1700s.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1932.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1614
Today Daily Change	37
Today Daily Change %	0.18
Today daily open	1.1593

Trends
Daily SMA20	1.1641
Daily SMA50	1.1727
Daily SMA100	1.1836
Daily SMA200	1.1939

Levels
Previous Daily High	1.1597
Previous Daily Low	1.1529
Previous Weekly High	1.164
Previous Weekly Low	1.1529
Previous Monthly High	1.1909
Previous Monthly Low	1.1563
Daily Fibonacci 38.2%	1.1571
Daily Fibonacci 61.8%	1.1555
Daily Pivot Point S1	1.1549
Daily Pivot Point S2	1.1505
Daily Pivot Point S3	1.1481
Daily Pivot Point R1	1.1617
Daily Pivot Point R2	1.1642
Daily Pivot Point R3	1.1686

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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