EUR/USD Price Analysis: Interim resistance aligns at 1.2173

EUR/USD rebounds from yearly lows in the 1.2050/55 band.
The recovery targets the Fibo level around 1.2170.

Pablo Piovano FXStreet

EUR/USD reclaims the 1.2100 mark and above on Tuesday, coming back from the area of 2021 lows in the mid-1.2000s.

If the recovery picks up extra steam, then the next interim hurdle emerges at the Fibo retracement (of the November-January rally) at 1.2173. Further up, there are no relevant levels until the YTD peaks 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 1.1608.

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	1.213
Today Daily Change	63
Today Daily Change %	0.44
Today daily open	1.2077

Trends
Daily SMA20	1.2205
Daily SMA50	1.2087
Daily SMA100	1.1931
Daily SMA200	1.1617

Levels
Previous Daily High	1.2087
Previous Daily Low	1.2054
Previous Weekly High	1.2227
Previous Weekly Low	1.2077
Previous Monthly High	1.231
Previous Monthly Low	1.1924
Daily Fibonacci 38.2%	1.2066
Daily Fibonacci 61.8%	1.2074
Daily Pivot Point S1	1.2058
Daily Pivot Point S2	1.2039
Daily Pivot Point S3	1.2024
Daily Pivot Point R1	1.2091
Daily Pivot Point R2	1.2106
Daily Pivot Point R3	1.2125

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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