EUR/USD Price Analysis: Bulls catch a breather above 1.1100

EUR/USD eases from 11-week top, still above 1.1100.
A 14-day-old rising channel, sustained trading beyond 200-day SMA favor buyers.
50% Fibonacci retracement can question immediate pullback moves.

Anil Panchal FXStreet

EUR/USD fades upside momentum while taking rounds to 1.1130 amid Tuesday’s Asian session. Although a short-term ascending trend channel formation seems to keep the bulls hopeful, 61.8% Fibonacci retracement of March month’s fall likely questions the pair’s further upside.

Even so, the pair’s latest drop might take a rest on the 50% Fibonacci retracement level around 1.1065 before visiting a 200-day SMA level of 1.1013.

During the quote’s further downside past-1.1013, the said channel’s support line could challenge the bears around 1.0985, a break of which could recall the late-May low near 1.0870.

On the upside, a clear break of 61.8% Fibonacci retracement level of 1.1170 could propel the quote towards the channel resistance figures of 1.1185.

EUR/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price	1.1131
Today Daily Change	-5 pips
Today Daily Change %	-0.04%
Today daily open	1.1136

Trends
Daily SMA20	1.0914
Daily SMA50	1.0905
Daily SMA100	1.0959
Daily SMA200	1.1013

Levels
Previous Daily High	1.1154
Previous Daily Low	1.1097
Previous Weekly High	1.1145
Previous Weekly Low	1.0871
Previous Monthly High	1.1145
Previous Monthly Low	1.0767
Daily Fibonacci 38.2%	1.1132
Daily Fibonacci 61.8%	1.1119
Daily Pivot Point S1	1.1104
Daily Pivot Point S2	1.1072
Daily Pivot Point S3	1.1047
Daily Pivot Point R1	1.1161
Daily Pivot Point R2	1.1186
Daily Pivot Point R3	1.1218

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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