EUR/USD Price Analysis: Recovery seen visiting the 1.0980 area

EUR/USD extends the recovery to the boundaries of the 1.09 mark.
Next on the upside appears the November’s low at 1.0981.

Pablo Piovano FXStreet

EUR/USD has managed to regain further upside traction on Wednesday and test the proximity of 1.09 the figure, or multi-day tops.

The pair left behind the “oversold” territory, although it is still under pressure. That said, the selling bias is expected to lose some impetus on a breakout of the November low at 1.0981.

Further out, the inability of sellers to push through the 1.0780/75 band in the short-term horizon could spark some consolidation, leaving that area as an interim bottom for the time being.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0874
Today Daily Change	35
Today Daily Change %	-0.07
Today daily open	1.0882

Trends
Daily SMA20	1.0918
Daily SMA50	1.1039
Daily SMA100	1.1057
Daily SMA200	1.1103

Levels
Previous Daily High	1.089
Previous Daily Low	1.083
Previous Weekly High	1.0864
Previous Weekly Low	1.0778
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.0867
Daily Fibonacci 61.8%	1.0853
Daily Pivot Point S1	1.0845
Daily Pivot Point S2	1.0807
Daily Pivot Point S3	1.0784
Daily Pivot Point R1	1.0905
Daily Pivot Point R2	1.0928
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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