EUR/USD Price Analysis: Extra gains on the cards above 1.1380/90

EUR/USD meets initial resistance in the 1.1375/80 band.
Further upside looks likely if this area is surpassed.

Pablo Piovano FXStreet

Following Tuesday’s strong uptick, EUR/USD’s upside momentum has run out vigour in the vicinity of 1.1390 on Wednesday.

If the pair manages to regain strength it should face the initial target in the 1.1390 region, where recent tops and the 4m resistance line converge. Above this area, the selling pressure should subside and sponsor extra gains to 1.1400 and beyond in the not-so-distant future.

The broader negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1735.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1364
Today Daily Change	24
Today Daily Change %	-0.02
Today daily open	1.1366

Trends
Daily SMA20	1.1317
Daily SMA50	1.1342
Daily SMA100	1.1516
Daily SMA200	1.1738

Levels
Previous Daily High	1.1375
Previous Daily Low	1.1313
Previous Weekly High	1.1379
Previous Weekly Low	1.1272
Previous Monthly High	1.1386
Previous Monthly Low	1.1222
Daily Fibonacci 38.2%	1.1352
Daily Fibonacci 61.8%	1.1337
Daily Pivot Point S1	1.1328
Daily Pivot Point S2	1.1289
Daily Pivot Point S3	1.1265
Daily Pivot Point R1	1.139
Daily Pivot Point R2	1.1414
Daily Pivot Point R3	1.1452

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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