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EUR/USD Price Analysis: A move to the 1.0900 zone remains likely

  • EUR/USD reclaims the 1.0800 area and above after dropping to 1.0770.
  • Immediately to the upside now emerges the 2022 peak at 1.0887.

EUR/USD adds to Wednesday’s uptick and manages to retake the area above the key 1.0800 barrier on Thursday.

It seems the pair is moving within a range bound theme ahead of the potential resumption of the uptrend. Against that, the immediate resistance level comes at the so far YTD high at 1.0887 (January 18). Once cleared, it could lead up to a probable visit to the round level at 1.0900 in the relatively short-term horizon.

Furthermore, while above the short-term support line near 1.0610, extra gains should remain in store.

In the longer run, the constructive view remains unchanged while above the 200-day SMA at 1.0307.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0822
Today Daily Change56
Today Daily Change %0.31
Today daily open1.0789
 
Trends
Daily SMA201.0687
Daily SMA501.0548
Daily SMA1001.0214
Daily SMA2001.031
 
Levels
Previous Daily High1.0888
Previous Daily Low1.0766
Previous Weekly High1.0868
Previous Weekly Low1.0639
Previous Monthly High1.0736
Previous Monthly Low1.0393
Daily Fibonacci 38.2%1.0813
Daily Fibonacci 61.8%1.0841
Daily Pivot Point S11.0741
Daily Pivot Point S21.0693
Daily Pivot Point S31.062
Daily Pivot Point R11.0862
Daily Pivot Point R21.0936
Daily Pivot Point R31.0984

Author

Pablo Piovano

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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