EUR/USD Technical Analysis: Spot appears consolidative around the 100-day SMA

The pair is alternating gains with losses at the beginning of the week, which continues to navigate around the 1.1470/80 band, where aligns the 100-day SMA.
The recent up move has been capped by the proximity of 1.1580, where sits the 61.8% Fibo of the September-November drop. That said, spot should surpass this area on a convincing fashion in order to open the door for a test of 1.1600 and above.
Extra consolidation could derive in a potential move lower with initial support at the 21-day SMA at 1.1411 ahead of the 55-day SMA at 1.1379.

Pablo Piovano FXStreet

EUR/USD daiy chart

EUR/USD

Overview:
    Today Last Price: 1.1462
    Today Daily change: -1.0 pips
    Today Daily change %: -0.00872%
    Today Daily Open: 1.1463
Trends:
    Previous Daily SMA20: 1.1423
    Previous Daily SMA50: 1.1384
    Previous Daily SMA100: 1.1476
    Previous Daily SMA200: 1.1627
Levels:
    Previous Daily High: 1.1541
    Previous Daily Low: 1.1458
    Previous Weekly High: 1.1571
    Previous Weekly Low: 1.1396
    Previous Monthly High: 1.1486
    Previous Monthly Low: 1.1269
    Previous Daily Fibonacci 38.2%: 1.1489
    Previous Daily Fibonacci 61.8%: 1.1509
    Previous Daily Pivot Point S1: 1.1434
    Previous Daily Pivot Point S2: 1.1404
    Previous Daily Pivot Point S3: 1.1351
    Previous Daily Pivot Point R1: 1.1516
    Previous Daily Pivot Point R2: 1.157
    Previous Daily Pivot Point R3: 1.1599

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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