EUR/USD Price Analysis: If it breaks above the 1.050 level, 1.0614 will be the next target

EUR/USD rises to multi-month highs near 1.0500.
Additional gains beyond the 1.0500 barrier seem likely.

The EUR/USD rally higher and approach the key 1.0500 barrier on Monday.

Once broken above 1.0500, the pair is expected to refocus on the weekly high of 1.0614 (Jun 27) ahead of a June high of 1.0773 (Jun 9) and a May high of 1.0786 (May 30).

Above the 200 SMA (1.0382), the outlook for the pair should remain constructive.

EUR/USD daily chart

EUR/USD

Overview
Last price today	1.0449
today’s daily change	155
Today’s daily change in %	0.38
today’s daily opening	1.0409

Trends
daily SMA20	1.0175
daily SMA50	0.9964
daily SMA100	1.0031
daily SMA200	1.0389

levels
previous daily high	1.0429
previous daily low	1.0355
Previous Weekly High	1.0449
previous weekly low	1.0223
Previous Monthly High	1.0094
Previous monthly minimum	0.9632
Daily Fibonacci of 38.2%	1.0383
Daily Fibonacci of 61.8%	1.0401
Daily Pivot Point S1	1.0366
Daily Pivot Point S2	1.0323
Daily Pivot Point S3	1.0292
Daily Pivot Point R1	1.0441
Daily Pivot Point R2	1.0472
Daily Pivot Point R3	1.0515

Source: Fx Street

Joshua

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.