EUR/USD Price Analysis: Rally is now focused on 1.1240

EUR/USD has reclaimed the 1.1200 mark earlier on Wednesday.
Further up comes 1.1240, December 2019 highs.

Pablo Piovano FXStreet

The steep move-up in EUR/USD regained the 1.1200 mark and managed to advance to fresh monthly peaks near 1.1230.

A sustainable break above the 1.1200 level should shift the focus of attention to the December’s 2019 peak at 1.1239.

While further gains are likely above the 200-day SMA, today at 1.1010, the proximity of overbought levels, as gauged by the RSI, carries the potential to spark a corrective downside.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1189
Today Daily Change	61
Today Daily Change %	0.17
Today daily open	1.117

Trends
Daily SMA20	1.093
Daily SMA50	1.0913
Daily SMA100	1.096
Daily SMA200	1.1013

Levels
Previous Daily High	1.1196
Previous Daily Low	1.1115
Previous Weekly High	1.1145
Previous Weekly Low	1.0871
Previous Monthly High	1.1145
Previous Monthly Low	1.0767
Daily Fibonacci 38.2%	1.1165
Daily Fibonacci 61.8%	1.1146
Daily Pivot Point S1	1.1125
Daily Pivot Point S2	1.108
Daily Pivot Point S3	1.1044
Daily Pivot Point R1	1.1206
Daily Pivot Point R2	1.1241
Daily Pivot Point R3	1.1286

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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