EUR/USD Price Analysis: The 55-day SMA holds the downside…for now

EUR/USD meets daily contention in the 1.1800 neighbourhood so far.
Extra losses appear contained near 1.1790 for the time being.

Pablo Piovano FXStreet

The upside momentum in EUR/USD appears to have met a decent barrier at monthly highs in the 1.1880 region (October 21).

The continuation of the side-lined mood seems underpinned by the 55-day SMA and last week’s lows in the 1.1790 zone. A break of this consolidative range in either direction is expected to risk a deeper pullback to the 1.1700 area, while the resumption of the bull trend is seen facing a key hurdle at 1.1880 initially.

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1300.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1813
Today Daily Change	56
Today Daily Change %	-0.41
Today daily open	1.1862

Trends
Daily SMA20	1.1766
Daily SMA50	1.1798
Daily SMA100	1.1633
Daily SMA200	1.1299

Levels
Previous Daily High	1.1865
Previous Daily Low	1.1787
Previous Weekly High	1.1881
Previous Weekly Low	1.1703
Previous Monthly High	1.2011
Previous Monthly Low	1.1612
Daily Fibonacci 38.2%	1.1835
Daily Fibonacci 61.8%	1.1817
Daily Pivot Point S1	1.1811
Daily Pivot Point S2	1.176
Daily Pivot Point S3	1.1733
Daily Pivot Point R1	1.1889
Daily Pivot Point R2	1.1916
Daily Pivot Point R3	1.1967

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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