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EUR/USD Price Analysis: Extra gains in the pipeline above 1.0700

  • EUR/USD regains the smile after two daily pullbacks in a row.
  • Another test of the 2023 high near 1.0930 appears likely.

EUR/USD picks up upside traction and reclaims the area beyond 1.0900 the figure on Monday.

Bets for further advance are seen rising while above the 2-month support line around the 1.0700 mark.

Indeed, the continuation of the uptrend now needs to rapidly clear the 2023 high at 1.0929 (January 26) to allow for a test of the weekly top at 1.0936 (April 21 2022). A sustainable break above this level could pave the way for a challenge of the key barrier at 1.1000 sooner rather than later.

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0310.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0896
Today Daily Change61
Today Daily Change %0.29
Today daily open1.0865
 
Trends
Daily SMA201.077
Daily SMA501.0624
Daily SMA1001.0277
Daily SMA2001.0312
 
Levels
Previous Daily High1.09
Previous Daily Low1.0838
Previous Weekly High1.093
Previous Weekly Low1.0835
Previous Monthly High1.0736
Previous Monthly Low1.0393
Daily Fibonacci 38.2%1.0862
Daily Fibonacci 61.8%1.0877
Daily Pivot Point S11.0835
Daily Pivot Point S21.0805
Daily Pivot Point S31.0773
Daily Pivot Point R11.0898
Daily Pivot Point R21.093
Daily Pivot Point R31.096

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

More from Pablo Piovano
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