EUR/USD Price Analysis: Next on the upside aligns 1.0770

EUR/USD resumes the upside beyond the 1.0700 barrier.
Further gains should meet the weekly high near 1.0770.

Pablo Piovano FXStreet

EUR/USD leaves behind Tuesday’s pullback and reclaims the area above 1.0700 the figure during pre-FOMC trade on Wednesday.

If the rebound gathers extra steam, the pair should face a minor hurdle at the weekly high of 1.0767 (September 12) prior to the critical 200-day SMA at 1.0828.

Despite the so far two-day bounce, the pair’s underlying bearish sentiment remains unchanged and leaves the door open to extra pullbacks in the short-term horizon. Against that backdrop, further losses could see the September low at 1.0631 (September 14) revisited ahead of the March low of 1.0516 (March 15).

While below the key 200-day SMA, the pair is likely to face extra weakness.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0705
Today Daily Change	37
Today Daily Change %	0.23
Today daily open	1.068

Trends
Daily SMA20	1.0763
Daily SMA50	1.0918
Daily SMA100	1.0889
Daily SMA200	1.0829

Levels
Previous Daily High	1.0718
Previous Daily Low	1.0675
Previous Weekly High	1.0769
Previous Weekly Low	1.0632
Previous Monthly High	1.1065
Previous Monthly Low	1.0766
Daily Fibonacci 38.2%	1.0691
Daily Fibonacci 61.8%	1.0702
Daily Pivot Point S1	1.0664
Daily Pivot Point S2	1.0648
Daily Pivot Point S3	1.0621
Daily Pivot Point R1	1.0707
Daily Pivot Point R2	1.0734
Daily Pivot Point R3	1.075

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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