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EUR/USD Price Analysis: Remains under pressure below 1.0780

  • EUR/USD fails to extend the bounce past the 1.0780 level.
  • The 3-month line near 1.0780 keeps capping the upside.

EUR/USD bounces off Tuesday’s lows near 1.0670, although the bullish attempt runs out of steam near 1.0760.

As long as the 3-month resistance line near 1.0780 continues to cap the upside, the pair is expected to remain under pressure and thus another move to the February low near 1.0670 should not be discarded just yet.

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0319.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0732
Today Daily Change39
Today Daily Change %0.07
Today daily open1.0725
 
Trends
Daily SMA201.0841
Daily SMA501.0693
Daily SMA1001.0335
Daily SMA2001.0321
 
Levels
Previous Daily High1.0767
Previous Daily Low1.0669
Previous Weekly High1.1033
Previous Weekly Low1.0793
Previous Monthly High1.093
Previous Monthly Low1.0483
Daily Fibonacci 38.2%1.0706
Daily Fibonacci 61.8%1.0729
Daily Pivot Point S11.0674
Daily Pivot Point S21.0623
Daily Pivot Point S31.0577
Daily Pivot Point R11.0771
Daily Pivot Point R21.0818
Daily Pivot Point R31.0869

Author

Pablo Piovano

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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