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EUR/USD Price Analysis: Further gains on the table above 1.0790

  • EUR/USD appears under pressure in the low-1.0700s.
  • The resistance line around 1.0790 caps the upside so far.

EUR/USD remains slightly on the defensive, although it manages well to keep the trade above the 1.0700 m ark so far on Wednesday.

The surpass of the 3-month resistance line, today around 1.0790, should see the downside pressure subsided and this could spark a fresh bout of strength in the near term. Against that, the next target of note then emerges at the weekly high at 1.0936 (April 21).

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.1242.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0724
Today Daily Change38
Today Daily Change %-0.10
Today daily open1.0735
 
Trends
Daily SMA201.059
Daily SMA501.0738
Daily SMA1001.0983
Daily SMA2001.125
 
Levels
Previous Daily High1.0779
Previous Daily Low1.0679
Previous Weekly High1.0765
Previous Weekly Low1.0552
Previous Monthly High1.0787
Previous Monthly Low1.035
Daily Fibonacci 38.2%1.0717
Daily Fibonacci 61.8%1.0741
Daily Pivot Point S11.0683
Daily Pivot Point S21.0631
Daily Pivot Point S31.0583
Daily Pivot Point R11.0783
Daily Pivot Point R21.0831
Daily Pivot Point R31.0883

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.

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