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EUR/USD Price Analysis: Euro prints fresh 7-day’s highs, challenges 1.1100 figure and 200 DMA

  • EUR/USD retracement up challenges the 1.1106 resistance and the 200 SMA on the daily chart.
  • The next levels of resistance are seen near 1.1163 and 1.1240. 
 

EUR/USD daily chart 

 
EUR/USD is bouncing sharply from the 2020 lows as the spot is on track to have a daily close above the 1.1100 figure and the 200 DMA (daily simple moving average). The market retraced up more than 50% of its last decline. 
 

EUR/USD four-hour chart

 
The bullish pressure remains unabated into the end of the week. The spot is looking to break above the 1.1106 resistance en route towards 1.1163 and potentially 1.1240 if the market gathers enough steam. Support is seen near the 1.1065, 1.1014 and 1.0968 price levels, according to the Technical Confluences Indicator.
 
 
Resistance: 1.1106, 1.1163, 1.1240
Support: 1.1065, 1.1014, 1.0968
 
 

Additional key levels

EUR/USD

Overview
Today last price1.11
Today Daily Change0.0069
Today Daily Change %0.63
Today daily open1.1031
 
Trends
Daily SMA201.1061
Daily SMA501.0999
Daily SMA1001.1048
Daily SMA2001.1083
 
Levels
Previous Daily High1.1059
Previous Daily Low1.087
Previous Weekly High1.1237
Previous Weekly Low1.0638
Previous Monthly High1.1089
Previous Monthly Low1.0778
Daily Fibonacci 38.2%1.0987
Daily Fibonacci 61.8%1.0942
Daily Pivot Point S11.0915
Daily Pivot Point S21.0798
Daily Pivot Point S31.0726
Daily Pivot Point R11.1103
Daily Pivot Point R21.1175
Daily Pivot Point R31.1291

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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