More rises expected above 1.2190

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  • EUR / USD maintains the daily range around the 1.2200 area.
  • The weakness is now limited by the 1.2265 / 70 band.

EUR / USD managed to bounce off last week’s lows in the vicinity of 1.2130, while recovering the 1.2200 zone.

Despite the drop to the 1.2130 zone, the downward pressure on the EUR / USD seems well contained around 1.2170, where a Fibonacci level is located (from the November-January rally).

The short-term support line (from the March lows) appears to support the positive momentum in the pair and therefore would allow for further gains. That said, above 1.2270 there is a possibility of an assault on the 1.2300 barrier on the near term horizon. Above, another visit to this year’s peaks in the area of ​​1.2350 (January 6 high) should not be ruled out.

On the broader view, the EUR / USD bullish stance is forecast to remain intact as long as it trades above the 200-day SMA, today at 1.1972.

EUR / USD day chart

EUR/USD

EUR/USD

Overview

Today last price1.2199

Today Daily Change0.0007

Today Daily Change %0.06

Today daily open1.2192

Trends

Daily SMA201.2145

Daily SMA501.2013

Daily SMA1001.2039

Daily SMA2001.1976

Levels

Previous Daily High1.2205

Previous Daily Low1.2133

Previous Weekly High1.2266

Previous Weekly Low1.2133

Previous Monthly High1.215

Previous Monthly Low1.1713

Daily Fibonacci 38.2%1.216

Daily Fibonacci 61.8%1.2177

Daily Pivot Point S11.2148

Daily Pivot Point S21.2105

Daily Pivot Point S31.2076

Daily Pivot Point R11.2221

Daily Pivot Point R21.2249

Daily Pivot Point R31.2293

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