EUR/USD Price Analysis: Next on the upside comes 1.0800 and above

EUR/USD clings to the positive territory near 1.0770 on Friday.
Extra upside impulse should challenge the 1.0800 barrier.

Pablo Piovano FXStreet

EUR/USD trades in a cautious note near 1.0760/70 ahead of the key release of US Nonfarm Payrolls.

Despite Thursday’s rebound, the pair remains under pressure. Against that, the breach of the May low at 1.0635 (May 31) could pave the way to a drop to 1.0600 prior to the March low at 1.0516 (March 15). On the upside, the breakout of 1.0800 the figure could rapidly see the 100-day SMA at 1.0811 revisited ahead of the 55-day SMA at 1.0886.

A deeper pullback to the 2023 low at 1.0496 (January 6) would likely need a sharp deterioration of the outlook, which appears not favoured for the time being.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0500.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0767
Today Daily Change	23
Today Daily Change %	0.05
Today daily open	1.0762

Trends
Daily SMA20	1.0828
Daily SMA50	1.0898
Daily SMA100	1.0814
Daily SMA200	1.0498

Levels
Previous Daily High	1.0768
Previous Daily Low	1.0662
Previous Weekly High	1.0831
Previous Weekly Low	1.0702
Previous Monthly High	1.1092
Previous Monthly Low	1.0635
Daily Fibonacci 38.2%	1.0728
Daily Fibonacci 61.8%	1.0703
Daily Pivot Point S1	1.0693
Daily Pivot Point S2	1.0624
Daily Pivot Point S3	1.0587
Daily Pivot Point R1	1.08
Daily Pivot Point R2	1.0837
Daily Pivot Point R3	1.0906

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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