EUR/USD Price Analysis: Bulls battle 1.2100 on the way to key hurdles


  • EUR/USD wavers around two-month top after Friday’s heavy run-up.
  • Successful break of 100-day SMA, bullish MACD suggest further upside.
  • March’s top, a descending trend line from early January test immediate rise.

EUR/USD bulls look for clear direction around early March top while taking rounds to 1.2100 during the initial Asian session on Monday.

In doing so, the key currency pair stays above 100-day SMA for the first time since March 04 after Friday’s notable upside moves, the heaviest since February 05.

Sustained trading beyond 100-day SMA also takes clues from bullish MACD to keep EUR/USD buyers hopeful.

It should, however, be noted that March month’s high near 1.2115 and a downward sloping trend line from January 06, around 1.2120, become decisive for the pair’s further upside.

Should the quote manages to remain strong above 1.2120, which is more likely, a horizontal area established from late January surrounding 1.2180–90 will be crucial to watch.

Meanwhile, pullback moves may eye the last week’s top near 1.2080 before retesting the 100-day SMA level of 1.2056.

If EUR/USD bears manage to sneak in below 1.2056, an ascending support line from April 13, around 1.2030, will be in the spotlight.

EUR/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 1.2095
Today Daily Change -2 pips
Today Daily Change % -0.02%
Today daily open 1.2097
 
Trends
Daily SMA20 1.1907
Daily SMA50 1.1956
Daily SMA100 1.2056
Daily SMA200 1.193
 
Levels
Previous Daily High 1.21
Previous Daily Low 1.2013
Previous Weekly High 1.21
Previous Weekly Low 1.1943
Previous Monthly High 1.2113
Previous Monthly Low 1.1704
Daily Fibonacci 38.2% 1.2067
Daily Fibonacci 61.8% 1.2046
Daily Pivot Point S1 1.204
Daily Pivot Point S2 1.1983
Daily Pivot Point S3 1.1953
Daily Pivot Point R1 1.2127
Daily Pivot Point R2 1.2157
Daily Pivot Point R3 1.2214

 

 

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