EUR/USD Price Analysis: Solid contention emerged around 1.1830

EUR/USD dropped and rebounded from the vicinity of 1.1830.
The 200-day SMA keeps capping the upside.

Pablo Piovano FXStreet

The selling bias in EUR/USD seems to have halted around 1.1830 so far. This initial area of contention coincides with the March 9 lows.

Against the current context, further pullbacks should not be ruled out. That said, a breach of the 1.1830 region should allow for a move to 1.1800 in the short-term horizon.

The near-term outlook for EUR/USD is forecast to remain on the negative side while below the key 200-day SMA, today at 1.1995.

In the meantime, current oversold conditions could allow for a near-term rebound.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1877
Today Daily Change	47
Today Daily Change %	0.16
Today daily open	1.1858

Trends
Daily SMA20	1.2025
Daily SMA50	1.2089
Daily SMA100	1.2025
Daily SMA200	1.1999

Levels
Previous Daily High	1.1909
Previous Daily Low	1.1845
Previous Weekly High	1.1975
Previous Weekly Low	1.1848
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.1869
Daily Fibonacci 61.8%	1.1885
Daily Pivot Point S1	1.1832
Daily Pivot Point S2	1.1807
Daily Pivot Point S3	1.1768
Daily Pivot Point R1	1.1896
Daily Pivot Point R2	1.1934
Daily Pivot Point R3	1.196

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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