EUR/USD Price Analysis: Downside pressure mitigated above 1.2250

EUR/USD meets weekly resistance in the 1.2200 area.
Extra gains seen above the mid-1.2200s near-term.

Pablo Piovano FXStreet

EUR/USD’s rebound seems to have met decent hurdle in the 1.2200 neighbourhood so far this week.

A move above the latter should expose the short-term resistance line (off March lows) around 1.2250. This area is also coincident with monthly peaks (June 1). Above this region, the pair should resume the upside bias and targets the May’s high at 1.2266 (May 25) ahead of 1.2300 the figure.

On the broader view, the constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1983.

EUR/USD daily chart

EUR/JPY

Overview
Today last price	133.31
Today Daily Change	30
Today Daily Change %	0.11
Today daily open	133.17

Trends
Daily SMA20	133.12
Daily SMA50	131.66
Daily SMA100	129.83
Daily SMA200	127.31

Levels
Previous Daily High	133.38
Previous Daily Low	132.89
Previous Weekly High	134.13
Previous Weekly Low	133.14
Previous Monthly High	134.06
Previous Monthly Low	130.98
Daily Fibonacci 38.2%	133.08
Daily Fibonacci 61.8%	133.19
Daily Pivot Point S1	132.91
Daily Pivot Point S2	132.65
Daily Pivot Point S3	132.41
Daily Pivot Point R1	133.4
Daily Pivot Point R2	133.64
Daily Pivot Point R3	133.9

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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