EUR/USD Price Analysis: Solid support remains near 1.2100

EUR/USD fails to gather serious upside traction above 1.2100.
The 50-day SMA near 1.2100 reinforces the contention area.

Pablo Piovano FXStreet

EUR/USD trades on a choppy fashion above 1.2100 the figure on turnaround Tuesday.

Further upside has so far met a decent hurdle at the 1.2150 zone, coincident with the 10-day SMA. The resumption of the downtrend remains likely of spot does not clear this area in the near term.

In that case, a break below recent lows in the 1.2100/1.2090 band could pave the way for extra losses in the short-term horizon. So far, the 50-day SMA just below 1.2100 also reinforces this support zone.

On the broader view, the constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1988.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2119
Today Daily Change	37
Today Daily Change %	0.00
Today daily open	1.2119

Trends
Daily SMA20	1.2186
Daily SMA50	1.2089
Daily SMA100	1.2042
Daily SMA200	1.1992

Levels
Previous Daily High	1.213
Previous Daily Low	1.2094
Previous Weekly High	1.2218
Previous Weekly Low	1.2093
Previous Monthly High	1.2266
Previous Monthly Low	1.1986
Daily Fibonacci 38.2%	1.2117
Daily Fibonacci 61.8%	1.2108
Daily Pivot Point S1	1.2099
Daily Pivot Point S2	1.2079
Daily Pivot Point S3	1.2063
Daily Pivot Point R1	1.2135
Daily Pivot Point R2	1.2151
Daily Pivot Point R3	1.2171

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.

EUR/USD climbs to daily highs on US CPI

EUR/USD now accelerates it rebound and flirts with the 1.1880 zone on Friday, or daily highs, all in response to renewed selling pressure on the US Dollar. In the meantime, US inflation figures showed the headline CPI rose less than expected in January, removing some tailwinds from the Greenback’s momentum.

GBP/USD clings to gains above 1.3600

GBP/USD reverses three consecutive daily pullbacks on Friday, hovering around the low-1.3600s on the back of the vacillating performance of the Greenback in the wake of the release of US CPI prints in January. Earlier in the day, the BoE’s Pill suggested that UK inflation could settle around 2.5%, above the bank’s goal.

Gold: Upside remains capped by $5,000

Gold is reclaiming part of the ground lost on Wednesday’s marked retracement, as bargain-hunters seem to have stepped in. The precious metal’s upside, however, appears limited amid the slightly better tone in the US Dollar after US inflation data saw the CPI rise less than estimated at the beginning of the year.