EUR/USD Price Analysis: Next hurdle emerges at 1.2180/90

EUR/USD adds to recent gains well above of 1.2100.
Extra gains could see the monthly tops around 1.2180/90 retested.

Pablo Piovano FXStreet

EUR/USD extends the rebound from last week’s lows in the 1.2050 region to levels close to 1.2170 at the beginning of the week.

The ongoing context allows for the continuation of the uptrend, at least in the very near-term, with the next hurdle at the so far monthly tops in the 1.2180/90 band (May 11). Above this level, the February’s high at 1.2243 emerges as the immediate resistance for EUR-bulls.

The constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1953.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2167
Today Daily Change	42
Today Daily Change %	0.14
Today daily open	1.215

Trends
Daily SMA20	1.2078
Daily SMA50	1.1958
Daily SMA100	1.2045
Daily SMA200	1.1957

Levels
Previous Daily High	1.215
Previous Daily Low	1.2071
Previous Weekly High	1.2182
Previous Weekly Low	1.2052
Previous Monthly High	1.215
Previous Monthly Low	1.1713
Daily Fibonacci 38.2%	1.212
Daily Fibonacci 61.8%	1.2101
Daily Pivot Point S1	1.2097
Daily Pivot Point S2	1.2044
Daily Pivot Point S3	1.2018
Daily Pivot Point R1	1.2177
Daily Pivot Point R2	1.2203
Daily Pivot Point R3	1.2256

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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