EUR/USD Price Analysis: Next target emerges at 1.0180

EUR/USD reclaims part of the ground lost on Tuesday’s sell-off.
Further rebound should target the multi-month line near 1.180.

Pablo Piovano FXStreet

EUR/USD regains some poise and manages to trim part of the weekly pullback following Tuesday’s slump in the wake of the release of US inflation figures.

If the recovery picks up extra pace, then the interim hurdle comes at the 55-day SMA at 1.0125 prior to the key 7-month resistance line, today near 1.0180. A move beyond the latter is needed to mitigate the downside pressure and allow at the same time a visit to the interim 100-day SMA at 1.0325 prior to the more relevant August high at 1.0368 (August 10).

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0741.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0006
Today Daily Change	68
Today Daily Change %	0.32
Today daily open	0.9974

Trends
Daily SMA20	1.0003
Daily SMA50	1.0108
Daily SMA100	1.0334
Daily SMA200	1.075

Levels
Previous Daily High	1.0187
Previous Daily Low	0.9967
Previous Weekly High	1.0114
Previous Weekly Low	0.9864
Previous Monthly High	1.0369
Previous Monthly Low	0.9901
Daily Fibonacci 38.2%	1.0051
Daily Fibonacci 61.8%	1.0103
Daily Pivot Point S1	0.9898
Daily Pivot Point S2	0.9822
Daily Pivot Point S3	0.9677
Daily Pivot Point R1	1.0118
Daily Pivot Point R2	1.0263
Daily Pivot Point R3	1.0339

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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