EUR/USD Price Analysis: Euro pressuring 2020 highs and nearing 1.1500 figure

EUR/USD bullish pressure remains unabated after the London close.
The level to beat for bulls is the 1.1471 resistance.

Flavio Tosti Independent Analyst

EUR/USD weekly chart

EUR/USD is reversing up sharply from 34-month lows as the spot is virtually erasing the 2019 losses in about three weeks of trading. There are no signs that the spot might slow down and a spike to the 2019 highs in the 1.1569/1.6000 price zone remains on the cards.

EUR/USD four-hour chart

EUR/USD is pressuring the 1.1471 resistance as the London session came to an end. As the bulls remain in control EUR/USD has room to climb towards the 1.1518 and 1.1566 price levels. Support can emerge near the 1.1400/1.1363 price zone and 1.1300 figure, according to the Technical Confluences Indicator.

Resistance: 1.1471, 1.1518, 1.1566

Support: 1.1400, 1.1363, 1.1300

Additional key levels

EUR/USD

Overview
Today last price	1.1439
Today Daily Change	0.0133
Today Daily Change %	1.18
Today daily open	1.1306

Trends
Daily SMA20	1.0955
Daily SMA50	1.1039
Daily SMA100	1.1062
Daily SMA200	1.1101

Levels
Previous Daily High	1.1355
Previous Daily Low	1.1212
Previous Weekly High	1.1355
Previous Weekly Low	1.1027
Previous Monthly High	1.1089
Previous Monthly Low	1.0778
Daily Fibonacci 38.2%	1.13
Daily Fibonacci 61.8%	1.1266
Daily Pivot Point S1	1.1227
Daily Pivot Point S2	1.1148
Daily Pivot Point S3	1.1084
Daily Pivot Point R1	1.137
Daily Pivot Point R2	1.1434
Daily Pivot Point R3	1.1513

Author

Flavio Tosti

Independent Analyst

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