EUR/USD Price Analysis: Further consolidation seems likely near term

EUR/USD alternates gains with losses around the 1.1300 zone.
Extra range bound remains in the pipeline in the very near term.

Pablo Piovano FXStreet

EUR/USD navigates the lower end of the so far yearly range near the 1.1300 area on Thursday.

The lack of a firm direction in either way should prompt the pair to maintain the current consolidative move in the very near term. The initial up barrier is located past the 1.1380 level (January 3), while sellers should meet contention near 1.1270 (January 4).

The broader negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1744.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1314
Today Daily Change	42
Today Daily Change %	0.03
Today daily open	1.1311

Trends
Daily SMA20	1.1307
Daily SMA50	1.1363
Daily SMA100	1.1531
Daily SMA200	1.1747

Levels
Previous Daily High	1.1347
Previous Daily Low	1.1277
Previous Weekly High	1.1386
Previous Weekly Low	1.1274
Previous Monthly High	1.1386
Previous Monthly Low	1.1222
Daily Fibonacci 38.2%	1.132
Daily Fibonacci 61.8%	1.1304
Daily Pivot Point S1	1.1277
Daily Pivot Point S2	1.1242
Daily Pivot Point S3	1.1207
Daily Pivot Point R1	1.1346
Daily Pivot Point R2	1.1381
Daily Pivot Point R3	1.1416

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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