EUR/USD Price Analysis: Solid hurdle emerged around 1.2180

EUR/USD reverses the initial optimism and returns to 1.2150/40.
Further north is located the 2021 peak at 1.2349 (January 6).

Pablo Piovano FXStreet

EUR-bulls failed once again to push EUR/USD past the 1.2180/90 band at the beginning of the week.

This area of resistance is also reinforced by the 21-day SMA, today at 1.2191. A break above this level should pave the way for a potential move to 2021 tops around 1.2350 (January 6).

On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1626.

Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2144
Today Daily Change	48
Today Daily Change %	-0.20
Today daily open	1.2168

Trends
Daily SMA20	1.2198
Daily SMA50	1.2113
Daily SMA100	1.1942
Daily SMA200	1.1641

Levels
Previous Daily High	1.219
Previous Daily Low	1.2152
Previous Weekly High	1.219
Previous Weekly Low	1.2054
Previous Monthly High	1.231
Previous Monthly Low	1.1924
Daily Fibonacci 38.2%	1.2166
Daily Fibonacci 61.8%	1.2175
Daily Pivot Point S1	1.215
Daily Pivot Point S2	1.2132
Daily Pivot Point S3	1.2112
Daily Pivot Point R1	1.2188
Daily Pivot Point R2	1.2208
Daily Pivot Point R3	1.2226

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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