EUR/USD Price Analysis: Further consolidation likely ahead of extra gains

EUR/USD is recovering some ground following Tuesday’s sharp drop.
Some consolidation could be seen ahead of a potential move higher.

Pablo Piovano FXStreet

EUR/USD has managed to regain poise and it has now regained the 1.1300 mark and beyond following Tuesday’s close in the 1.1280 region.

The pair is expected to see some rangebound trading in the upper end of the recent range for the time being, ahead of the probable continuation of the move to the 1.15 neighbourhood (and probably 1.1569).

Looking at the broader picture, the outlook on the spot stays bullish while above the 200-day SMA, today at 1.1101.

EUR/USD

Overview
Today last price	1.1329
Today Daily Change	91
Today Daily Change %	0.43
Today daily open	1.1281

Trends
Daily SMA20	1.1
Daily SMA50	1.1045
Daily SMA100	1.1066
Daily SMA200	1.1102

Levels
Previous Daily High	1.1467
Previous Daily Low	1.1275
Previous Weekly High	1.1355
Previous Weekly Low	1.1027
Previous Monthly High	1.1089
Previous Monthly Low	1.0778
Daily Fibonacci 38.2%	1.1348
Daily Fibonacci 61.8%	1.1394
Daily Pivot Point S1	1.1215
Daily Pivot Point S2	1.1149
Daily Pivot Point S3	1.1023
Daily Pivot Point R1	1.1407
Daily Pivot Point R2	1.1533
Daily Pivot Point R3	1.1599

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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