EUR/USD Price Analysis: Bulls need to keep gains above 1.1920

EUR/USD trades at the highest point in nearly three months.
Acceptance above 101920 will likely invite stronger buying pressure.

Omkar Godbole FXStreet Contributor

EUR/USD is currently trading near Wednesday's high of 1.1928, the highest level since Sept. 1.

The pair needs to establish a foothold above the horizontal resistance of 1.1920 – euro turned lower from that level on Nov. 9.

That would cement the bullish view put forward by the descending triangle breakdown confirmed earlier this month and open the doors for a re-test of 1.2011 (Sept. 1 high).

A failure to hold above 1.1920 could yield a pullback to the ascending 10-day Simple Moving Average, currently at 1.1870. The pair clocked a high of 1.1928 on Wednesday but closed under 1.1920.

Daily chart

Trend: Bullish

Technical levels

EUR/USD

Overview
Today last price	1.1928
Today Daily Change	0.0004
Today Daily Change %	0.03
Today daily open	1.1924

Trends
Daily SMA20	1.1804
Daily SMA50	1.1778
Daily SMA100	1.1756
Daily SMA200	1.1394

Levels
Previous Daily High	1.193
Previous Daily Low	1.1882
Previous Weekly High	1.1894
Previous Weekly Low	1.1814
Previous Monthly High	1.1881
Previous Monthly Low	1.164
Daily Fibonacci 38.2%	1.1911
Daily Fibonacci 61.8%	1.19
Daily Pivot Point S1	1.1894
Daily Pivot Point S2	1.1864
Daily Pivot Point S3	1.1846
Daily Pivot Point R1	1.1942
Daily Pivot Point R2	1.196
Daily Pivot Point R3	1.1989

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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