EUR/USD Price Analysis: Solid contention is located near 1.1770

EUR/USD bounces off recent lows in the 1.1780 area.
The 2020-2021 support line holds the downside so far.

Pablo Piovano FXStreet

EUR/USD manages to find dip-buyers and trades in new 2-day peaks near 1.1850 in the second half of the week.

The prospect for further decline looks unchanged in the very near term. Against that, there is a tough contention area in the 1.1770 zone, where coincides a Fibo level and the 2020-2021 support line.

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1999.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1843
Today Daily Change	62
Today Daily Change %	0.44
Today daily open	1.1791

Trends
Daily SMA20	1.1941
Daily SMA50	1.2066
Daily SMA100	1.2011
Daily SMA200	1.2004

Levels
Previous Daily High	1.1836
Previous Daily Low	1.1782
Previous Weekly High	1.1944
Previous Weekly Low	1.1807
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.1802
Daily Fibonacci 61.8%	1.1815
Daily Pivot Point S1	1.177
Daily Pivot Point S2	1.1748
Daily Pivot Point S3	1.1715
Daily Pivot Point R1	1.1824
Daily Pivot Point R2	1.1857
Daily Pivot Point R3	1.1878

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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