EUR/USD Price Analysis: Strong hurdle aligns at 1.0880/90

The recovery in EUR/USD stalled once again near the 1.0870 level.
The pair could move into a consolidative phase in the near-term.

Pablo Piovano FXStreet

EUR/USD challenged once again the are of weekly highs near 1.0870, just below the key initial resistance in the 1.0880/90 band.

The pair keeps navigating near the “oversold” territory - as per the RSI indicator – and therefore there is still the probability of extra bullish attempts in the short-term horizon.

On the broader scenario, the bearish view remains unchanged as long as the spot trades below the 55-day SMA, today at 1.1045. However, the inability of sellers to push through the 1.0780/75 band in the short-term horizon could spark some consolidation, leaving that area as an interim bottom for the time being.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0827
Today Daily Change	37
Today Daily Change %	-0.23
Today daily open	1.0852

Trends
Daily SMA20	1.0925
Daily SMA50	1.1044
Daily SMA100	1.1058
Daily SMA200	1.1104

Levels
Previous Daily High	1.0872
Previous Daily Low	1.0805
Previous Weekly High	1.0864
Previous Weekly Low	1.0778
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.0847
Daily Fibonacci 61.8%	1.0831
Daily Pivot Point S1	1.0814
Daily Pivot Point S2	1.0776
Daily Pivot Point S3	1.0747
Daily Pivot Point R1	1.0881
Daily Pivot Point R2	1.091
Daily Pivot Point R3	1.0949

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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