EUR/USD Price Analysis: The 2021 high near 1.2350 is back on the radar

EUR/USD clinches new 4-month peaks in the 1.2250 zone.
Further up is located the YTD tops in the mid-1.2300s.

Pablo Piovano FXStreet

EUR/USD extends the rebound to new multi-month highs around 1.2250, just to spark a corrective move soon afterwards on Wednesday.

The buying bias remains well and sound for the time being. Against this backdrop, there are no hurdle of note until the YTD peaks in the 1.2350 area (January 6).

Furthermore, the constructive stance on EUR/USD is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1957.

Of note, however, is that the daily RSI still did not confirm the recent peaks, which could be indicative of a bearish divergence and therefore a prelude to a corrective move in the short-term.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2206
Today Daily Change	45
Today Daily Change %	-0.13
Today daily open	1.2222

Trends
Daily SMA20	1.2093
Daily SMA50	1.197
Daily SMA100	1.2044
Daily SMA200	1.1962

Levels
Previous Daily High	1.2234
Previous Daily Low	1.2151
Previous Weekly High	1.2182
Previous Weekly Low	1.2052
Previous Monthly High	1.215
Previous Monthly Low	1.1713
Daily Fibonacci 38.2%	1.2202
Daily Fibonacci 61.8%	1.2183
Daily Pivot Point S1	1.2171
Daily Pivot Point S2	1.2119
Daily Pivot Point S3	1.2088
Daily Pivot Point R1	1.2254
Daily Pivot Point R2	1.2285
Daily Pivot Point R3	1.2337

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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