EUR/USD Price Analysis: Further upside still looks favoured

EUR/USD sees its upside bias dented somewhat on Tuesday.
The 1.0804 level still emerges as the next up-barrier so far.

Pablo Piovano FXStreet

EUR/USD comes under fresh downside pressure following recent multi-week highs near 1.0750.

The continuation of the uptrend appears in store for the time being. Against that, a convincing move above 1.0750 should open the door the weekly high at 1.0804 (February 14). Further up, there are no resistance levels of note until the 2023 peak at 1.1032 (February 2).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0324.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0708
Today Daily Change	70
Today Daily Change %	-0.21
Today daily open	1.0731

Trends
Daily SMA20	1.0634
Daily SMA50	1.0723
Daily SMA100	1.0543
Daily SMA200	1.0326

Levels
Previous Daily High	1.0749
Previous Daily Low	1.0642
Previous Weekly High	1.0701
Previous Weekly Low	1.0524
Previous Monthly High	1.1033
Previous Monthly Low	1.0533
Daily Fibonacci 38.2%	1.0708
Daily Fibonacci 61.8%	1.0683
Daily Pivot Point S1	1.0666
Daily Pivot Point S2	1.0601
Daily Pivot Point S3	1.056
Daily Pivot Point R1	1.0772
Daily Pivot Point R2	1.0814
Daily Pivot Point R3	1.0879

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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