- EUR/USD bullish momentum picks up on Monday.
- The next upside target is 1.0800.
He EUR/USD extends buying interest to fresh multi-week highs above 1.0700, the early-week reading.
The continuation of the upward trend seems favored for the moment. Conversely, a convincing move above Monday’s high at 1.0737 would open the door to a weekly high at 1.0804 (Feb 14). Higher up, there are no major resistance levels until the 2023 high at 1.1032 (2 Feb).
Longer-term, constructive view remains above the 200-day SMA at 1.0324 today.
EUR/USD daily chart
|Last price today||1.0721|
|Today I change daily||87|
|today’s daily variation||0.79|
|today daily opening||1.0637|
|previous daily high||1.0701|
|previous daily low||1.0574|
|Previous Weekly High||1.0701|
|previous weekly low||1.0524|
|Previous Monthly High||1.1033|
|Previous monthly minimum||1.0533|
|Fibonacci daily 38.2||1.0652|
|Fibonacci 61.8% daily||1.0622|
|Daily Pivot Point S1||1.0574|
|Daily Pivot Point S2||1.0511|
|Daily Pivot Point S3||1.0447|
|Daily Pivot Point R1||1.07|
|Daily Pivot Point R2||1.0764|
|Daily Pivot Point R3||1.0827|
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.