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EUR/USD Price Analysis: Upside remains limited by 1.0770

  • EUR/USD halts three consecutive daily advances.
  • The 1.0770 region emerges as the initial hurdle for bulls.

EUR/USD struggles to continue the weekly recovery and seems to have met a decent resistance around 1.0770 so far.

The underlying bearish sentiment remains unchanged and leaves the door open to extra pullbacks in the short-term horizon. Against that backdrop, the breach of the 1.0700 region could encourage sellers to embark on a probable visit to the September low of 1.0685 (September 7) ahead of the May low of 1.0635 (May 31).

In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0826.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0739
Today Daily Change54
Today Daily Change %-0.14
Today daily open1.0754
 
Trends
Daily SMA201.0811
Daily SMA501.0944
Daily SMA1001.0905
Daily SMA2001.0826
 
Levels
Previous Daily High1.0769
Previous Daily Low1.0705
Previous Weekly High1.0809
Previous Weekly Low1.0686
Previous Monthly High1.1065
Previous Monthly Low1.0766
Daily Fibonacci 38.2%1.0745
Daily Fibonacci 61.8%1.073
Daily Pivot Point S11.0717
Daily Pivot Point S21.0679
Daily Pivot Point S31.0653
Daily Pivot Point R11.078
Daily Pivot Point R21.0806
Daily Pivot Point R31.0844

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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