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EUR/USD Price Analysis: The hunt for the 1.0600 region

  • EUR/USD rises to 2-day highs and revisits the 1.0550 zone.
  • Further upside is expected to meet the next barrier at 1.0614.

EUR/USD reverses the weekly leg lower and reclaims the 1.0500 barrier and above on Wednesday.

Further upside in the pair is now likely to pick up pace following the recent surpass of the 200-day Simple Moving Average (SMA) and the 10-month resistance line. Against that, there are no resistance levels of note until the June high at 1.0614 (June 27).

Further upside in EUR/USD remains on the cards while above the 200-day SMA, today at 1.0355.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0543
Today Daily Change106
Today Daily Change %0.70
Today daily open1.047
 
Trends
Daily SMA201.0359
Daily SMA501.0055
Daily SMA1001.0056
Daily SMA2001.0361
 
Levels
Previous Daily High1.0533
Previous Daily Low1.046
Previous Weekly High1.0545
Previous Weekly Low1.029
Previous Monthly High1.0497
Previous Monthly Low0.973
Daily Fibonacci 38.2%1.0488
Daily Fibonacci 61.8%1.0505
Daily Pivot Point S11.0442
Daily Pivot Point S21.0414
Daily Pivot Point S31.0368
Daily Pivot Point R11.0515
Daily Pivot Point R21.0561
Daily Pivot Point R31.0589

Author

Pablo Piovano

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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