EUR/USD Technical Analysis: Near term corrective. Could test 1.1590 and above

The pair’s recovery has met a strong resistance in the 1.1570 region so far, although the bull run still carries the potential to re-visit the 55-day SMA at 1.1592 ahead of 1.1623, where sits the 21-day SMA.
In case the bullish impetus gathers further traction, then the 1.1790 region should return to the radars.
On a resumption of the weak note, immediate contention emerges at weekly lows in the 1.1435/30 band ahead of the critical 200-dweek SMA at 1.1326.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview:
    Last Price: 1.1547
    Daily change: 26 pips
    Daily change: 0.226%
    Daily Open: 1.1521
Trends:
    Daily SMA20: 1.1625
    Daily SMA50: 1.1585
    Daily SMA100: 1.163
    Daily SMA200: 1.1925
Levels:
    Daily High: 1.1546
    Daily Low: 1.148
    Weekly High: 1.1625
    Weekly Low: 1.1464
    Monthly High: 1.1816
    Monthly Low: 1.1464
    Daily Fibonacci 38.2%: 1.1521
    Daily Fibonacci 61.8%: 1.1505
    Daily Pivot Point S1: 1.1485
    Daily Pivot Point S2: 1.1449
    Daily Pivot Point S3: 1.1419
    Daily Pivot Point R1: 1.1552
    Daily Pivot Point R2: 1.1582
    Daily Pivot Point R3: 1.1618

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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