EUR/USD Price Analysis: Gains likely to hold above 1.0200

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  • EUR/USD rises to 4-week highs just below the 1.0200 mark.
  • Once that level is surpassed, it seems that there will be more rises.

The EUR/USD adds to Friday’s advance and tests new highs near 1.0200 at the start of the week, an area that coincides with the 7-month resistance line.

The pair now needs to break out of that resistance zone to see its downside pressure eased while allowing a visit to the intermediate 100-Day SMA at 1.0338 before the more relevant August high at 1.0368 (Aug 10).

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In the long term, the bearish view of the pair is expected to prevail as long as it trades below the 200-day SMA at 1.0755.

EUR/USD daily chart

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Technical levels

Dollar Index Spot

Last Price Today 108.25
Today’s Daily Change -0.73
Today’s Daily Change % -0.67
Today’s Daily Opening 108.98
20 Daily SMA 108.74
50 Daily SMA 107.48
100 Daily SMA 105.46
200 Daily SMA 101.35
Previous Daily High 108.98
Previous Daily Minimum 108.98
Previous Maximum Weekly 110.79
Previous Weekly Minimum 108.36
Monthly Prior Maximum 109.48
Previous Monthly Minimum 104.64
Daily Fibonacci 38.2% 108.98
Daily Fibonacci 61.8% 108.98
Daily Pivot Point S1 108.98
Daily Pivot Point S2 108.98
Daily Pivot Point S3 108.98
Daily Pivot Point R1 108.98
Daily Pivot Point R2 108.98
Daily Pivot Point R3 108.98

Source: Fx Street

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