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EUR/USD Price Analysis: Rising odds for a near-term rebound

  • EUR/USD navigates within a tight range around 1.1670.
  • Oversold levels could spark a technical bounce.

The mood around EUR/USD remains fragile around the area of recent 2021 lows near 1.1660.

While the most likely scenario seems to point to further decline in the short-term horizon, the probability of a technical rebound has been picking up pace in light of the oversold condition of the pair, as per the daily. RSI.

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2003.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.168
Today Daily Change25
Today Daily Change %0.03
Today daily open1.1676
 
Trends
Daily SMA201.1788
Daily SMA501.1847
Daily SMA1001.1961
Daily SMA2001.2008
 
Levels
Previous Daily High1.1717
Previous Daily Low1.1666
Previous Weekly High1.1805
Previous Weekly Low1.1706
Previous Monthly High1.1909
Previous Monthly Low1.1752
Daily Fibonacci 38.2%1.1685
Daily Fibonacci 61.8%1.1698
Daily Pivot Point S11.1655
Daily Pivot Point S21.1635
Daily Pivot Point S31.1604
Daily Pivot Point R11.1707
Daily Pivot Point R21.1737
Daily Pivot Point R31.1758

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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