EURUSD Price Analysis: Further Rise Likely to Break Above Parity

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  • EURUSD rallies and revisits parity zone.
  • Gaining momentum could lead to a retest of the October high near 1.0100.

EURUSD picks up momentum and briefly breaks above parity, where initial resistance seems to have appeared so far.

If the pair breaks out of the parity zone sustainably, it could then challenge the temporary hurdle of the 100-day SMA today at 1.0045. Breaking above the latter exposes a move towards the October high at 1.0093 (Oct 27).

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As long as it is above the 9-month resistance line, today near 0.9860, further gains seem likely.

In the long term, the bearish view on the pair should remain unchanged as long as it is below the 200 SMA at 1.0462.

EURUSD day chart

EURUSD

Overview
last price today 0.9981
daily change today 107
Today’s daily variation in % 0.21
Daily opening today 0.996
Trends
daily SMA20 0.9844
daily SMA50 0.9879
daily SMA100 1.0053
daily SMA200 1,047
levels
Previous daily high 0.9967
Previous Daily Low 0.9743
Previous Weekly High 0.9976
Previous Weekly Low 0.973
Previous Monthly High 1.0094
Previous Monthly Low 0.9632
Daily Fibonacci of 38.2% 0.9881
Daily Fibonacci of 61.8% 0.9828
Daily Pivot Point S1 0.9813
Daily Pivot Point S2 0.9666
Daily Pivot Point S3 0.9589
Daily Pivot Point R1 1.0037
Daily Pivot Point R2 1.0114
Daily Pivot Point R3 1.0261
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Source: Fx Street

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