EUR/USD Price Analysis: Rally now sees a potential move to 1.20

EUR/USD stays bid and briefly surpassed 1.19 earlier on Friday.
Further gains now target the critical barrier at 1.20 the figure.

Pablo Piovano FXStreet

EUR/USD recorded new +2-year highs just above the 1.1900 mark at the end of the week, extending the move further into the overbought territory, as per the daily RSI.

The pair looks firmer and there is now room for a more convincing breakout of the 1.19 neighbourhood ahead of the psychological yardstick at 1.2000.

Looking at the broader picture, as long as the 200-day SMA, today at 1.1086, holds the downside, further gains in EUR/USD remains well on the table.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1841
Today Daily Change	82
Today Daily Change %	-0.05
Today daily open	1.1847

Trends
Daily SMA20	1.1481
Daily SMA50	1.1315
Daily SMA100	1.1102
Daily SMA200	1.1085

Levels
Previous Daily High	1.1848
Previous Daily Low	1.1732
Previous Weekly High	1.1658
Previous Weekly Low	1.1402
Previous Monthly High	1.1422
Previous Monthly Low	1.1097
Daily Fibonacci 38.2%	1.1804
Daily Fibonacci 61.8%	1.1777
Daily Pivot Point S1	1.177
Daily Pivot Point S2	1.1693
Daily Pivot Point S3	1.1654
Daily Pivot Point R1	1.1886
Daily Pivot Point R2	1.1926
Daily Pivot Point R3	1.2003

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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