EUR/USD Price Analysis: Downside alleviated above 1.0820

EUR/USD advances to fresh monthly peaks near 1.0770.
Extra gains now target the resistance line near 1.0820.

Pablo Piovano FXStreet

EUR/USD comes under pressure soon after clinching new highs in the vicinity of 1.0770 on Friday.

Considering the pair’s current price action, the continuation of the rebound looks likely in the very near term at least. That said, the next up barrier now appears at the 55-day SMA, today at 1.0770 prior to the 3-month resistance line near 1.0820.

The breakout of this area should mitigate the selling pressure and allow for a probable move to the weekly high at 1.0936 (April 21).

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0699
Today Daily Change	68
Today Daily Change %	-0.20
Today daily open	1.072

Trends
Daily SMA20	1.0556
Daily SMA50	1.0755
Daily SMA100	1.1001
Daily SMA200	1.1264

Levels
Previous Daily High	1.0732
Previous Daily Low	1.0663
Previous Weekly High	1.0607
Previous Weekly Low	1.0389
Previous Monthly High	1.1076
Previous Monthly Low	1.0471
Daily Fibonacci 38.2%	1.0705
Daily Fibonacci 61.8%	1.0689
Daily Pivot Point S1	1.0678
Daily Pivot Point S2	1.0636
Daily Pivot Point S3	1.0609
Daily Pivot Point R1	1.0747
Daily Pivot Point R2	1.0774
Daily Pivot Point R3	1.0816

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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