EUR/USD Price Analysis: The 2023 high emerges as the big magnet for bulls

EUR/USD struggles to advance further north of 1.0980 on Thursday.
The next resistance level of note comes at the YTD peak near 1.1070 .

Pablo Piovano FXStreet

EUR/USD’s initial bullish attempt runs out of steam near 1.0980 on Thursday.

Further consolidation should not be ruled out for the time being. The breakout of this theme exposes a probable move to 1.1000 ahead of the 2023 high at 1.1075 (April 14). On the downside, the 1.0900 zone emerges as quite a decent contention so far.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0387.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0955
Today Daily Change	32
Today Daily Change %	0.00
Today daily open	1.0955

Trends
Daily SMA20	1.0903
Daily SMA50	1.0756
Daily SMA100	1.0728
Daily SMA200	1.0384

Levels
Previous Daily High	1.0984
Previous Daily Low	1.0917
Previous Weekly High	1.1076
Previous Weekly Low	1.0837
Previous Monthly High	1.093
Previous Monthly Low	1.0516
Daily Fibonacci 38.2%	1.0943
Daily Fibonacci 61.8%	1.0959
Daily Pivot Point S1	1.092
Daily Pivot Point S2	1.0885
Daily Pivot Point S3	1.0853
Daily Pivot Point R1	1.0987
Daily Pivot Point R2	1.1019
Daily Pivot Point R3	1.1054

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.

EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

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