EUR/USD Price Analysis: The 1.2000 level looms closer

EUR/USD keeps the trade around the 1.19 zone.
Further north comes in the psychological 1.20 hurdle.

Pablo Piovano FXStreet

EUR/USD met some resistance in the area of 2-week highs near 1.1930 (April 8), sparking the ongoing knee-jerk afterwards.

The rebound from YTD lows near 1.1700 appears to have further legs to go in the very near-term. A convincing breakout of the 200-day SMA (1.1885) should open the door to further gains with the next target at the 1.1980/90 region. In this area converge the mid-March peaks, the 50-day SMA and a Fibo level (of the November-January rally). A surpass of this area allows for a move to the key 1.2000 hurdle.

Above the 200-day SMA (1.1885) the stance for EUR/USD is expected to shift to positive.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1886
Today Daily Change	37
Today Daily Change %	-0.23
Today daily open	1.1913

Trends
Daily SMA20	1.1848
Daily SMA50	1.1974
Daily SMA100	1.2055
Daily SMA200	1.1894

Levels
Previous Daily High	1.1927
Previous Daily Low	1.1861
Previous Weekly High	1.1794
Previous Weekly Low	1.1704
Previous Monthly High	1.2113
Previous Monthly Low	1.1704
Daily Fibonacci 38.2%	1.1902
Daily Fibonacci 61.8%	1.1886
Daily Pivot Point S1	1.1873
Daily Pivot Point S2	1.1834
Daily Pivot Point S3	1.1807
Daily Pivot Point R1	1.194
Daily Pivot Point R2	1.1967
Daily Pivot Point R3	1.2007

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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