EUR/USD Price Analysis: Looks set to cross weekly hurdle on the way to 1.2100

EUR/USD flirts with 200-HMA, picking up bids of late.
Upbeat Momentum line, sustained breakout of short-term falling trend line keep buyers hopeful.
1.2000 threshold, monthly low adds to the downside filters.

Anil Panchal FXStreet

EUR/USD stays firmer around 1.2065-70 amid Friday’s Asian session. In doing so, the quote seesaws near 200-HMA while keeping the previous day’s upside break of a one-week-old falling trend line amid upbeat Momentum.

Hence, EUR/USD bulls have all they need to cross the immediate resistance line around 1.2070 while trying to meet the 1.2100 round figure.

However, the pair’s upside past 1.2100 depends upon how well it can conquer the previous month’s top near 1.2150 as well as the monthly Nonfarm Payrolls (NFP) from the US.

Read: US April Nonfarm Payrolls Preview: Leading indicators point to another strong NFP

On the contrary, pullback moves may revisit 1.2050 and 1.2030 levels before testing the previous resistance line from April 29 around 1.2010.

Also acting as the supports are the 1.2000 threshold and the monthly low near 1.1985.

To sum up, EUR/USD is well directed to the north but cautious sentiment ahead of the US jobs report seems to test the bulls.

EUR/USD hourly chart

Trend: Bullish

Additional important levels

Overview
Today last price	1.2065
Today Daily Change	0.0000
Today Daily Change %	0.00%
Today daily open	1.2065

Trends
Daily SMA20	1.2025
Daily SMA50	1.1946
Daily SMA100	1.2049
Daily SMA200	1.1948

Levels
Previous Daily High	1.2072
Previous Daily Low	1.1993
Previous Weekly High	1.215
Previous Weekly Low	1.2017
Previous Monthly High	1.215
Previous Monthly Low	1.1713
Daily Fibonacci 38.2%	1.2042
Daily Fibonacci 61.8%	1.2023
Daily Pivot Point S1	1.2015
Daily Pivot Point S2	1.1965
Daily Pivot Point S3	1.1937
Daily Pivot Point R1	1.2094
Daily Pivot Point R2	1.2122
Daily Pivot Point R3	1.2172

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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