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.

Pablo Piovano FXStreet

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 price	1.0732
Today Daily Change	39
Today Daily Change %	0.07
Today daily open	1.0725

Trends
Daily SMA20	1.0841
Daily SMA50	1.0693
Daily SMA100	1.0335
Daily SMA200	1.0321

Levels
Previous Daily High	1.0767
Previous Daily Low	1.0669
Previous Weekly High	1.1033
Previous Weekly Low	1.0793
Previous Monthly High	1.093
Previous Monthly Low	1.0483
Daily Fibonacci 38.2%	1.0706
Daily Fibonacci 61.8%	1.0729
Daily Pivot Point S1	1.0674
Daily Pivot Point S2	1.0623
Daily Pivot Point S3	1.0577
Daily Pivot Point R1	1.0771
Daily Pivot Point R2	1.0818
Daily Pivot Point R3	1.0869

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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