EUR/USD Price Analysis: Downside pressure alleviated above 1.1250

EUR/USD drifts lower following new tops around 1.1180.
The 8-month resistance line emerges as the next hurdle of note.

Pablo Piovano FXStreet

EUR/USD corrects lower after reaching new 4-week tops in the 1.1180/85 band on Thursday.

That said, immediately to the upside comes the temporary resistance at the 55-day SMA, today at 1.1198 ahead of the 1.1250 region, where the 100-day SMA and the 8-month line coincide. Beyond this area, the selling bias is expected to subside and allow for extra gains in the short-term horizon.

The medium-term negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1488.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1079
Today Daily Change	116
Today Daily Change %	-0.71
Today daily open	1.1158

Trends
Daily SMA20	1.1003
Daily SMA50	1.1184
Daily SMA100	1.1253
Daily SMA200	1.1494

Levels
Previous Daily High	1.1171
Previous Daily Low	1.1083
Previous Weekly High	1.107
Previous Weekly Low	1.0961
Previous Monthly High	1.1495
Previous Monthly Low	1.1106
Daily Fibonacci 38.2%	1.1137
Daily Fibonacci 61.8%	1.1116
Daily Pivot Point S1	1.1104
Daily Pivot Point S2	1.1049
Daily Pivot Point S3	1.1015
Daily Pivot Point R1	1.1192
Daily Pivot Point R2	1.1226
Daily Pivot Point R3	1.1281

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.