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EUR/USD Price Analysis: Initial support turns up near 1.0760

  • EUR/USD attempts a mild bounce after testing lows around 1.0760.
  • There is a temporary hurdle at the 55-day SMA near 1.0870.

EUR/USD rebounds from new 2-month lows in the 1.0760/55 band and manages to briefly surpass the 1.0800 hurdle at the end of the week.

While initially supported by the 1.0760 region, occasional bullish attempts could see the pair confront the temporary hurdle at the 55-day SMA at 1.0865 ahead of the more significant 1.1000 mark.

Extra losses are not ruled out in the current context, although a sustained retracement to the March bottom of 1.0516 (March 15) is not favoured for the time being.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0465.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0795
Today Daily Change64
Today Daily Change %0.23
Today daily open1.077
 
Trends
Daily SMA201.0961
Daily SMA501.0891
Daily SMA1001.0807
Daily SMA2001.0464
 
Levels
Previous Daily High1.0848
Previous Daily Low1.0762
Previous Weekly High1.1054
Previous Weekly Low1.0848
Previous Monthly High1.1095
Previous Monthly Low1.0788
Daily Fibonacci 38.2%1.0795
Daily Fibonacci 61.8%1.0815
Daily Pivot Point S11.0739
Daily Pivot Point S21.0708
Daily Pivot Point S31.0654
Daily Pivot Point R11.0825
Daily Pivot Point R21.0879
Daily Pivot Point R31.091

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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