EUR/USD Price Analysis: Door open for a move to 1.2190

EUR/USD attempts to break above the recent consolidation.
There is a minor hurdle at the Fibo level near 1.2170.

Pablo Piovano FXStreet

EUR/USD trades in multi-day highs and approaches the 1.2160 level in the first half of the week.

Next on the upside for EUR-bulls emerges a Fibo level (of the November-January rally) at 1.2173. A decisive surpass of this zone should put the weekly highs near 1.2190 (January 22) back on the radar. The selling pressure should alleviate by then and this could open the door to a probable visit to the YTD highs in the 1.2350 zone.

On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1732.

Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2165
Today Daily Change	43
Today Daily Change %	0.28
Today daily open	1.2131

Trends
Daily SMA20	1.2103
Daily SMA50	1.2157
Daily SMA100	1.1993
Daily SMA200	1.1741

Levels
Previous Daily High	1.2145
Previous Daily Low	1.2117
Previous Weekly High	1.215
Previous Weekly Low	1.202
Previous Monthly High	1.235
Previous Monthly Low	1.2054
Daily Fibonacci 38.2%	1.2134
Daily Fibonacci 61.8%	1.2128
Daily Pivot Point S1	1.2117
Daily Pivot Point S2	1.2103
Daily Pivot Point S3	1.2089
Daily Pivot Point R1	1.2145
Daily Pivot Point R2	1.2159
Daily Pivot Point R3	1.2173

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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