EUR/USD Technical Analysis: Rangebound trade expected ahead of FOMC

EUR/USD tested fresh yearly lows in the 1.1100 area last week, although sellers failed to drag it further south.
A drop below the 1.1100 area still remains on the cards in the near term despite some consolidation is favoured ahead of the key FOMC event later in the week.
In the meantime, the offered tone in the pair should prevail below the 55-day SMA, today at 1.1234. Immediate to the upside lies the area of recent peaks in the 1.1280/90 band.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.112
Today Daily Change	21
Today Daily Change %	-0.06
Today daily open	1.1127

Trends
Daily SMA20	1.1226
Daily SMA50	1.1242
Daily SMA100	1.1243
Daily SMA200	1.1309

Levels
Previous Daily High	1.1152
Previous Daily Low	1.1112
Previous Weekly High	1.1226
Previous Weekly Low	1.1101
Previous Monthly High	1.1414
Previous Monthly Low	1.116
Daily Fibonacci 38.2%	1.1127
Daily Fibonacci 61.8%	1.1137
Daily Pivot Point S1	1.1109
Daily Pivot Point S2	1.109
Daily Pivot Point S3	1.1068
Daily Pivot Point R1	1.1149
Daily Pivot Point R2	1.1171
Daily Pivot Point R3	1.119

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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