EUR/USD Price Analysis: Selling bias meets support around 1.0850

EUR/USD picks up some traction and revisits 1.0890.
The multi-week lows near 1.0850 hold the downside so far.

Pablo Piovano FXStreet

Following a test of the mid-1.0800s – an area coincident with the 55-day SMA – EUR/USD manages to pick up pace and revisit 1.0890.

Immediately to the upside now comes the psychological 1.1000 hurdle. A sustainable breakout of this hurdle exposes a probable test of the 2023 peak at 1.1095 (April 26) just before the round level at 1.1100.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0454.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0877
Today Daily Change	46
Today Daily Change %	0.26
Today daily open	1.0849

Trends
Daily SMA20	1.0985
Daily SMA50	1.0871
Daily SMA100	1.0799
Daily SMA200	1.0453

Levels
Previous Daily High	1.0936
Previous Daily Low	1.0848
Previous Weekly High	1.1054
Previous Weekly Low	1.0848
Previous Monthly High	1.1095
Previous Monthly Low	1.0788
Daily Fibonacci 38.2%	1.0881
Daily Fibonacci 61.8%	1.0902
Daily Pivot Point S1	1.0819
Daily Pivot Point S2	1.079
Daily Pivot Point S3	1.0732
Daily Pivot Point R1	1.0907
Daily Pivot Point R2	1.0965
Daily Pivot Point R3	1.0994

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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