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EUR/USD Price Analysis: A solid resistance emerges around 1.0930

  • EUR/USD leaves behind the earlier drop to the sub-1.0800 region.
  • Further gains continue to target monthly peaks in the 1.0930 area.

EUR/USD bounces off earlier lows in the proximity of 1.0790 and regains the 1.0880 region in a volatile start of the new trading week.

The likelihood of extra advances appears favoured for the time being. Against that, the pair could now set sail to the March peak at 1.0929 (March 23) prior to a potential test of the 2023 high at 1.1032 (February 2).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0341.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0871
Today Daily Change89
Today Daily Change %0.29
Today daily open1.084
 
Trends
Daily SMA201.0724
Daily SMA501.0732
Daily SMA1001.0651
Daily SMA2001.0342
 
Levels
Previous Daily High1.0926
Previous Daily Low1.0837
Previous Weekly High1.0926
Previous Weekly Low1.0745
Previous Monthly High1.093
Previous Monthly Low1.0516
Daily Fibonacci 38.2%1.0871
Daily Fibonacci 61.8%1.0892
Daily Pivot Point S11.0809
Daily Pivot Point S21.0779
Daily Pivot Point S31.072
Daily Pivot Point R11.0898
Daily Pivot Point R21.0956
Daily Pivot Point R31.0987

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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