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EUR/USD Price Analysis: Immediately higher comes 1.0874

  • EUR/USD is rebounding from Wednesday’s lows near 1.0770.
  • The next upside barrier to watch remains the yearly high at 1.0874.

EUR/USD rises after back-to-back daily pullbacks and recaptures the 1.0800 barrier and beyond on Wednesday.

It seems that the pair is moving within a consolidation range, limited before the possible resumption of the uptrend. Immediate resistance lies at the year-to-date high of 1.0874 (Jan 16), which once broken could lead to a probable visit to the round 1.0900 level on a relatively short-term horizon.

Also, as long as it remains above the near-term support line near 1.0600, they should remain biased higher.

Longer-term, constructive view remains as long as it is above the 200 SMA at 1.0307.

EUR/USD day chart

EUR/USD

Overview
Last price today 1.0814
Today I change daily 105
today’s daily variation 0.19
today’s daily opening 1.0794
Trends
daily SMA20 1.0678
daily SMA50 1.0533
daily SMA100 1.0206
daily SMA200 1,031
levels
previous daily high 1.0869
previous daily low 1.0774
Previous Weekly High 1.0868
previous weekly low 1.0639
Previous Monthly High 1.0736
Previous monthly minimum 1.0393
Fibonacci daily 38.2 1.0811
Fibonacci 61.8% daily 1.0833
Daily Pivot Point S1 1.0756
Daily Pivot Point S2 1.0718
Daily Pivot Point S3 1.0661
Daily Pivot Point R1 1.0851
Daily Pivot Point R2 1.0908
Daily Pivot Point R3 1.0946

Source: Fx Street

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