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.

Pablo Piovano FXStreet

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 price	1.168
Today Daily Change	25
Today Daily Change %	0.03
Today daily open	1.1676

Trends
Daily SMA20	1.1788
Daily SMA50	1.1847
Daily SMA100	1.1961
Daily SMA200	1.2008

Levels
Previous Daily High	1.1717
Previous Daily Low	1.1666
Previous Weekly High	1.1805
Previous Weekly Low	1.1706
Previous Monthly High	1.1909
Previous Monthly Low	1.1752
Daily Fibonacci 38.2%	1.1685
Daily Fibonacci 61.8%	1.1698
Daily Pivot Point S1	1.1655
Daily Pivot Point S2	1.1635
Daily Pivot Point S3	1.1604
Daily Pivot Point R1	1.1707
Daily Pivot Point R2	1.1737
Daily Pivot Point R3	1.1758

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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