EUR/USD Price Analysis: Near-term outlook remains neutral

EUR/USD keeps the consolidative mood around the 1.08 level.
Interim resistance emerges at the 55-day SMA at 1.0950.

Pablo Piovano FXStreet

EUR/USD is trading on a mixed fashion in the first half of the week and is looking to stabilize in the 1.0800 neighbourhood following the recent sell-off.

Further rangebound trading remains well on the cards for the time being, although the inability to probe or better clear the 55-day SMA at 1.0950 in the short-term horizon carries the potential to encourage sellers to return to the market on a more convincing fashion. This hurdle is also reinforced by the 2-month resistance line in the 1.0930/35 band.

That said, the initial magnet to the downside sits at last week’s lows in the 1.0770/65 band ahead of April’s low at 1.0727 (April 24^th).

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0831
Today Daily Change	52
Today Daily Change %	0.21
Today daily open	1.0808

Trends
Daily SMA20	1.0861
Daily SMA50	1.0949
Daily SMA100	1.099
Daily SMA200	1.1028

Levels
Previous Daily High	1.085
Previous Daily Low	1.0801
Previous Weekly High	1.0981
Previous Weekly Low	1.0767
Previous Monthly High	1.1039
Previous Monthly Low	1.0727
Daily Fibonacci 38.2%	1.082
Daily Fibonacci 61.8%	1.0831
Daily Pivot Point S1	1.0789
Daily Pivot Point S2	1.077
Daily Pivot Point S3	1.0739
Daily Pivot Point R1	1.0839
Daily Pivot Point R2	1.0869
Daily Pivot Point R3	1.0888

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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