EUR/USD Price Analysis: Scope for extra gains near term

EUR/USD advances further to fresh 6-month peaks near 1.0550.
Further upside could put the 1.0614 level back on the radar.

Pablo Piovano FXStreet

EUR/USD keeps the optimism well and sound and advances to new highs near 1.0550, an area last seen back in late June.

Gains in the pair are now likely to pick up pace following the breakout of the 200-day SMA and the 10-month resistance line. Against that, there are no resistance levels of note until the June high at 1.0614 (June 27).

Further upside in EUR/USD remains on the cards while above the 200-day SMA, today at 1.0365.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0538
Today Daily Change	49
Today Daily Change %	0.13
Today daily open	1.0524

Trends
Daily SMA20	1.0288
Daily SMA50	1.0003
Daily SMA100	1.0045
Daily SMA200	1.0371

Levels
Previous Daily High	1.0534
Previous Daily Low	1.0393
Previous Weekly High	1.0449
Previous Weekly Low	1.0223
Previous Monthly High	1.0497
Previous Monthly Low	0.973
Daily Fibonacci 38.2%	1.048
Daily Fibonacci 61.8%	1.0447
Daily Pivot Point S1	1.0434
Daily Pivot Point S2	1.0343
Daily Pivot Point S3	1.0293
Daily Pivot Point R1	1.0574
Daily Pivot Point R2	1.0624
Daily Pivot Point R3	1.0715

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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