EUR/USD Price Analysis: Recovery now targets the 1.0980 area

The upside momentum in EUR/USD extends further north of 1.0900.
Immediately above emerges the 1.0980 region, November 2019 low.

Pablo Piovano FXStreet

EUR/USD extends the weekly recovery further and is looking to consolidate the recent breakout of the key barrier at 1.09 the figure.

The pair left behind the “oversold” territory - as per the RSI indicator – and moved up on the back of the correction lower in the greenback.

If bulls manage to remain in control, then the 1.0980 region (November 2019 peak) should return to the radar as the next key target.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0937
Today Daily Change	71
Today Daily Change %	0.48
Today daily open	1.0885

Trends
Daily SMA20	1.0912
Daily SMA50	1.1034
Daily SMA100	1.1056
Daily SMA200	1.1101

Levels
Previous Daily High	1.0909
Previous Daily Low	1.0855
Previous Weekly High	1.0864
Previous Weekly Low	1.0778
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.0888
Daily Fibonacci 61.8%	1.0876
Daily Pivot Point S1	1.0857
Daily Pivot Point S2	1.0829
Daily Pivot Point S3	1.0803
Daily Pivot Point R1	1.0911
Daily Pivot Point R2	1.0937
Daily Pivot Point R3	1.0965

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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