EUR/USD Price Analysis: Next on the upside aligns 1.1700

  • EUR/USD regains some composure following new lows near 1.1610.
  • The next key resistance is located in the 1.1700 neighbourhood.

After recording fresh 2-month lows near 1.1610 on Friday, EUR/USD has started the week on quite an optimistic mood and managed to re-take the mid-1.1600s on the back of some correction in the greenback.

While further pullbacks should not be ruled out just yet, the ongoing rebound needs to surpass the 1.1700 neighbourhood on a sustainable fashion to allow for extra gains and convince markets that the resumption of the bullish momentum is in the offing.

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1236.

EUR/USD daily chart


Today last price 1.1662
Today Daily Change 50
Today Daily Change % 0.26
Today daily open 1.1632
Daily SMA20 1.1806
Daily SMA50 1.1786
Daily SMA100 1.148
Daily SMA200 1.1236
Previous Daily High 1.1685
Previous Daily Low 1.1612
Previous Weekly High 1.1872
Previous Weekly Low 1.1612
Previous Monthly High 1.1966
Previous Monthly Low 1.1696
Daily Fibonacci 38.2% 1.164
Daily Fibonacci 61.8% 1.1657
Daily Pivot Point S1 1.1601
Daily Pivot Point S2 1.157
Daily Pivot Point S3 1.1528
Daily Pivot Point R1 1.1674
Daily Pivot Point R2 1.1716
Daily Pivot Point R3 1.1747



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