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.

Pablo Piovano FXStreet

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 price	1.1326
Today Daily Change	31
Today Daily Change %	0.00
Today daily open	1.1326

Trends
Daily SMA20	1.1311
Daily SMA50	1.1346
Daily SMA100	1.152
Daily SMA200	1.174

Levels
Previous Daily High	1.1361
Previous Daily Low	1.1285
Previous Weekly High	1.1379
Previous Weekly Low	1.1272
Previous Monthly High	1.1386
Previous Monthly Low	1.1222
Daily Fibonacci 38.2%	1.1314
Daily Fibonacci 61.8%	1.1332
Daily Pivot Point S1	1.1287
Daily Pivot Point S2	1.1248
Daily Pivot Point S3	1.1211
Daily Pivot Point R1	1.1363
Daily Pivot Point R2	1.1401
Daily Pivot Point R3	1.144

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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