EUR/USD technical analysis: Bullish reversal confirmed, eyes hurdle at 1.1064

EUR/USD confirmed a bullish reversal with a 0.57% rise on Wednesday.
The Aug. 22 low of 1.1064 could come into play during the day ahead.

Omkar Godbole FXStreet Contributor

EUR/USD closed 0.57% higher on Wednesday, confirming the bearish-to-bullish trend change signaled by the preceding day's Dragonfly Doji.

The pair has also found acceptance above the Aug. 1 low of 1.1027. So, the next key resistance at 1.1064 (Aug. 22 low) could be put to test during the day ahead.

The bullish candlestick setup on the daily chart would be invalidated if the spot drops below Wednesday's low of 1.0968, although, as of writing, that looks unlikely.

As of writing, the pair is flat-lined around 1.1034.

Daily chart

Trend: Bullish

Technical levels

EUR/USD

Overview
Today last price	1.1034
Today Daily Change	-0.0002
Today Daily Change %	-0.02
Today daily open	1.1036

Trends
Daily SMA20	1.1094
Daily SMA50	1.1167
Daily SMA100	1.1195
Daily SMA200	1.1272

Levels
Previous Daily High	1.104
Previous Daily Low	1.0969
Previous Weekly High	1.1164
Previous Weekly Low	1.0962
Previous Monthly High	1.1251
Previous Monthly Low	1.0962
Daily Fibonacci 38.2%	1.1012
Daily Fibonacci 61.8%	1.0996
Daily Pivot Point S1	1.099
Daily Pivot Point S2	1.0944
Daily Pivot Point S3	1.0919
Daily Pivot Point R1	1.1061
Daily Pivot Point R2	1.1086
Daily Pivot Point R3	1.1132

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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