EUR/USD Price Analysis: Gains remain capped near 1.2200

EUR/USD keeps the side-lined theme for yet another session.
The vicinity of 1.2200 emerges as the next target of note.

Pablo Piovano FXStreet

EUR/USD adds to recent gains and faces usual hurdle at the key area around 1.2150. This zone of resistance is also reinforced by the 55-day SMA at 1.2146

Further up comes in recent tops around 1.2170 as well as a Fibo retracement (of the November-January rally) at 1.2173. If bulls keep pushing, then the weekly high at 1.2189 (January 22) should return to the radar. The selling pressure should alleviate above the latter, opening the door to a probable visit to the YTD highs in the 1.2350 zone.

On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1757.

Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2132
Today Daily Change	53
Today Daily Change %	0.12
Today daily open	1.2117

Trends
Daily SMA20	1.2092
Daily SMA50	1.2155
Daily SMA100	1.2007
Daily SMA200	1.1766

Levels
Previous Daily High	1.2144
Previous Daily Low	1.2082
Previous Weekly High	1.217
Previous Weekly Low	1.2023
Previous Monthly High	1.235
Previous Monthly Low	1.2054
Daily Fibonacci 38.2%	1.2121
Daily Fibonacci 61.8%	1.2106
Daily Pivot Point S1	1.2085
Daily Pivot Point S2	1.2052
Daily Pivot Point S3	1.2022
Daily Pivot Point R1	1.2147
Daily Pivot Point R2	1.2177
Daily Pivot Point R3	1.2209

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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