EUR/USD Price Analysis: Extra gains likely above 1.1887

EUR/USD adds to the recovery well above the 1.18 mark.
Next target comes in at the Fibo level at 1.1887.

Pablo Piovano FXStreet

EUR/USD manages to extend the rebound from recent lows in the 1.1780 zone. This area is coincident with the key 2020-2021 support line (off November 2020 lows).

In case the buying pressure gathers extra steam, then the next hurdle emerges at the Fibo level at 1.1887. Above this area, the downside pressure could alleviate somewhat and allow for a probable move to the more relevant 1.1970 area.

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2000.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1863
Today Daily Change	38
Today Daily Change %	0.16
Today daily open	1.1844

Trends
Daily SMA20	1.1925
Daily SMA50	1.206
Daily SMA100	1.2009
Daily SMA200	1.2004

Levels
Previous Daily High	1.1868
Previous Daily Low	1.1784
Previous Weekly High	1.1944
Previous Weekly Low	1.1807
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.1836
Daily Fibonacci 61.8%	1.1816
Daily Pivot Point S1	1.1796
Daily Pivot Point S2	1.1748
Daily Pivot Point S3	1.1712
Daily Pivot Point R1	1.188
Daily Pivot Point R2	1.1916
Daily Pivot Point R3	1.1965

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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