EUR/USD Technical Analysis: The corrective upside could test 1.1040

EUR/USD keeps supported at the 1.0990 region so far this week.
Above the 55-day at 1.1040, the downside pressure is expected to alleviate.

Pablo Piovano FXStreet

EUR/USD has managed to rebound from the key support area around 1.0990.

The ongoing recovery could extend to the key 55-day SMA near 1.1040. Above this level, the downside pressure should mitigate somewhat and allow for a potential test of the 100-day SMA at 1.1076 ahead of last week’s highs in 1.1095/1.1100 band.

If the pair clears 1.10, then the 1.0990 region should offer interim support ahead of the more relevant 1.0930 zone. If the selling impetus picks up pace, then a move to 2019 low at 1.0879 should not be ruled out.

EUR/USD

Overview
Today last price	1.1014
Today Daily Change	19
Today Daily Change %	0.12
Today daily open	1.1001

Trends
Daily SMA20	1.1056
Daily SMA50	1.1042
Daily SMA100	1.1081
Daily SMA200	1.1169

Levels
Previous Daily High	1.1027
Previous Daily Low	1.0992
Previous Weekly High	1.1098
Previous Weekly Low	1.1014
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1005
Daily Fibonacci 61.8%	1.1014
Daily Pivot Point S1	1.0986
Daily Pivot Point S2	1.0971
Daily Pivot Point S3	1.095
Daily Pivot Point R1	1.1022
Daily Pivot Point R2	1.1043
Daily Pivot Point R3	1.1058

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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