EUR/USD Price Analysis: Downside pressure alleviated above 1.1970

EUR/USD adds to Friday’s gains and approaches 1.1900.
A surpass of the 1.1970 area should allow for extra gains.

Pablo Piovano FXStreet

EUR/USD extends the recovery following Friday’s pullback to the proximity of the 1.1800 mark.

The continuation of the recovery faces interim hurdles at the Fibo level at 1.1887 ahead of the 10-day SMA, today at 1.1898. Further north comes in the weekly highs in the 1.1970/80 band.

Above the latter, the selling pressure is forecast to ease somewhat and allow for a move to the key 200-day SMA just shy of the psychological 1.20 the figure.

The near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1997.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1877
Today Daily Change	29
Today Daily Change %	0.09
Today daily open	1.1866

Trends
Daily SMA20	1.1994
Daily SMA50	1.2082
Daily SMA100	1.2019
Daily SMA200	1.2001

Levels
Previous Daily High	1.1874
Previous Daily Low	1.1807
Previous Weekly High	1.1944
Previous Weekly Low	1.1807
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.1849
Daily Fibonacci 61.8%	1.1833
Daily Pivot Point S1	1.1824
Daily Pivot Point S2	1.1782
Daily Pivot Point S3	1.1757
Daily Pivot Point R1	1.1891
Daily Pivot Point R2	1.1916
Daily Pivot Point R3	1.1958

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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