EUR/USD Price Analysis: The 200-day SMA should hold the downside

EUR/USD’s rapid move past 1.2000 met resistance near 1.2080.
Bouts of selling pressure are expected to be contained around 1.1910.

Pablo Piovano FXStreet

EUR/USD clinches fresh multi-week tops near 1.2080, although deflates to the negative ground afterwards.

The pair gained extra upside impulse after surpassing the 1.2050/64 band, where converge the 100-day SMA and a Fibo retracement (of the November-January rally).

Above the new peaks around 1.2080 comes in the interim hurdle at 1.2100 ahead of the February highs around 1.2240.

Above the 200-day SMA (1.1910) the stance for EUR/USD is predicted to remain positive.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2034
Today Daily Change	53
Today Daily Change %	-0.03
Today daily open	1.2038

Trends
Daily SMA20	1.1859
Daily SMA50	1.1962
Daily SMA100	1.2059
Daily SMA200	1.1917

Levels
Previous Daily High	1.2048
Previous Daily Low	1.1943
Previous Weekly High	1.1995
Previous Weekly Low	1.1871
Previous Monthly High	1.2113
Previous Monthly Low	1.1704
Daily Fibonacci 38.2%	1.2008
Daily Fibonacci 61.8%	1.1983
Daily Pivot Point S1	1.1971
Daily Pivot Point S2	1.1904
Daily Pivot Point S3	1.1866
Daily Pivot Point R1	1.2077
Daily Pivot Point R2	1.2115
Daily Pivot Point R3	1.2182

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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