EUR/USD Technical Analysis: Spot erodes the Fibo retracement in the mid-1.1300s

EUR/USD keeps trading on a positive note so far this week and is now challenging the 1.1350/55 band, where emerges a Fibo retracement of the September-November drop.
The pair needs to regain the 100-day SMA in the 1.1400 neighbourhood in order to alleviate downside pressure, although the bearish view is poised to persist while below the short-term resistance line at 1.1482.
In case the offered bias resumes, the 10-day SMA at 1.1309 emerges as the initial support ahead of YTD lows in the 1.1235/30 band.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview:
    Today Last Price: 1.1344
    Today Daily change: 24 pips
    Today Daily change %: 0.01%
    Today Daily Open: 1.1343
Trends:
    Daily SMA20: 1.1368
    Daily SMA50: 1.1392
    Daily SMA100: 1.14
    Daily SMA200: 1.1524
Levels:
    Previous Daily High: 1.1358
    Previous Daily Low: 1.1276
    Previous Weekly High: 1.1344
    Previous Weekly Low: 1.1234
    Previous Monthly High: 1.1586
    Previous Monthly Low: 1.1289
    Daily Fibonacci 38.2%: 1.1327
    Daily Fibonacci 61.8%: 1.1307
    Daily Pivot Point S1: 1.1293
    Daily Pivot Point S2: 1.1243
    Daily Pivot Point S3: 1.121
    Daily Pivot Point R1: 1.1376
    Daily Pivot Point R2: 1.1409
    Daily Pivot Point R3: 1.1459

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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