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.

Pablo Piovano FXStreet

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 price	1.0724
Today Daily Change	38
Today Daily Change %	-0.10
Today daily open	1.0735

Trends
Daily SMA20	1.059
Daily SMA50	1.0738
Daily SMA100	1.0983
Daily SMA200	1.125

Levels
Previous Daily High	1.0779
Previous Daily Low	1.0679
Previous Weekly High	1.0765
Previous Weekly Low	1.0552
Previous Monthly High	1.0787
Previous Monthly Low	1.035
Daily Fibonacci 38.2%	1.0717
Daily Fibonacci 61.8%	1.0741
Daily Pivot Point S1	1.0683
Daily Pivot Point S2	1.0631
Daily Pivot Point S3	1.0583
Daily Pivot Point R1	1.0783
Daily Pivot Point R2	1.0831
Daily Pivot Point R3	1.0883

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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