EUR/USD Price Analysis: Temporary contention emerges near 1.0880

EUR/USD fades part of the recent optimism and retests 1.0920.
Next on the downside comes the 55-day SMA around 1.0880.

Pablo Piovano FXStreet

EUR/USD gives away some of the recent 2-day gains and slips back to the 1.0925/20 band on Wednesday.

In case the selling pressure gathers extra impulse, the pair could see the 55-day SMA, today at 1.0883, revisited in the near term. Below the latter, the weekly low at 1.0844 (June 23) could become the next support to watch for.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0578.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0924
Today Daily Change	39
Today Daily Change %	-0.34
Today daily open	1.0961

Trends
Daily SMA20	1.083
Daily SMA50	1.0876
Daily SMA100	1.0814
Daily SMA200	1.0574

Levels
Previous Daily High	1.0977
Previous Daily Low	1.0902
Previous Weekly High	1.1012
Previous Weekly Low	1.0844
Previous Monthly High	1.1092
Previous Monthly Low	1.0635
Daily Fibonacci 38.2%	1.0948
Daily Fibonacci 61.8%	1.093
Daily Pivot Point S1	1.0916
Daily Pivot Point S2	1.0872
Daily Pivot Point S3	1.0842
Daily Pivot Point R1	1.0991
Daily Pivot Point R2	1.1021
Daily Pivot Point R3	1.1066

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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