EUR/USD Price Analysis: Bullish bias unchanged above 1.0540

EUR/USD remains bid near the 1.0780 region on Thursday.
Extra gains likely above the immediate support line near 1.0540.

Pablo Piovano FXStreet

EUR/USD seems to have met solid resistance in the area of recent peaks around 1.0780.

In case bulls remain in control, the breakout of the January high at 1.0776 (January 11) could put the May 2022 top at 1.0786 (May 30) back on the radar ahead of the round level at 1.0800.

While above the short-term support line near 1.0540, the pair should maintain its bullish outlook.

In the longer run, the constructive view remains unchanged while above the 200-day SMA at 1.0308.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0758
Today Daily Change	33
Today Daily Change %	0.04
Today daily open	1.0754

Trends
Daily SMA20	1.0635
Daily SMA50	1.0463
Daily SMA100	1.0173
Daily SMA200	1.0311

Levels
Previous Daily High	1.0776
Previous Daily Low	1.0726
Previous Weekly High	1.071
Previous Weekly Low	1.0483
Previous Monthly High	1.0736
Previous Monthly Low	1.0393
Daily Fibonacci 38.2%	1.0757
Daily Fibonacci 61.8%	1.0745
Daily Pivot Point S1	1.0728
Daily Pivot Point S2	1.0701
Daily Pivot Point S3	1.0677
Daily Pivot Point R1	1.0778
Daily Pivot Point R2	1.0803
Daily Pivot Point R3	1.0829

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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