- 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
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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