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EUR/USD Price Analysis: Selling pressure alleviated above 1.1390

  • EUR/USD alternates gains with losses in the low-1.1300s.
  • A break above the 4m resistance line exposes further recovery.

EUR/USD struggles for direction in the 1.1320/30 band on turnaround Tuesday.

If the pair manages to regain strength it should face an initial target at the 55-day SMA at 1.1364 ahead of the YTD high at 1.1386. Further up comes the 4m resistance line near the 1.1400 yardstick. Surpassing the latter should mitigate the downside pressure in the short-term.

The broader negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1737.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.1326
Today Daily Change31
Today Daily Change %0.00
Today daily open1.1326
 
Trends
Daily SMA201.1311
Daily SMA501.1346
Daily SMA1001.152
Daily SMA2001.174
 
Levels
Previous Daily High1.1361
Previous Daily Low1.1285
Previous Weekly High1.1379
Previous Weekly Low1.1272
Previous Monthly High1.1386
Previous Monthly Low1.1222
Daily Fibonacci 38.2%1.1314
Daily Fibonacci 61.8%1.1332
Daily Pivot Point S11.1287
Daily Pivot Point S21.1248
Daily Pivot Point S31.1211
Daily Pivot Point R11.1363
Daily Pivot Point R21.1401
Daily Pivot Point R31.144

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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