EUR/USD Price Analysis: Immediate target comes at 1.1870

EUR/USD leaves behind recent weakness and retakes 1.1830.
Further upside targets the 1.1870 area in the near term.

Pablo Piovano FXStreet

EUR/USD reverses Tuesday’s losses and advances to the 1.1830 region on Wednesday, all framed within the multi-session rangebound theme.

There is a minor resistance around weekly highs near 1.1850 ahead of the 1.1870 zone, where sits the short-term resistance line. Above this area, gains are expected to accelerate to the Fibo level at 1.1889 ahead of another visit to monthly tops above 1.19 de figure.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1992.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1828
Today Daily Change	32
Today Daily Change %	0.21
Today daily open	1.1803

Trends
Daily SMA20	1.1794
Daily SMA50	1.18
Daily SMA100	1.1936
Daily SMA200	1.1996

Levels
Previous Daily High	1.1846
Previous Daily Low	1.18
Previous Weekly High	1.1886
Previous Weekly Low	1.1802
Previous Monthly High	1.19
Previous Monthly Low	1.1664
Daily Fibonacci 38.2%	1.1818
Daily Fibonacci 61.8%	1.1828
Daily Pivot Point S1	1.1787
Daily Pivot Point S2	1.1771
Daily Pivot Point S3	1.1741
Daily Pivot Point R1	1.1833
Daily Pivot Point R2	1.1862
Daily Pivot Point R3	1.1878

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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