EUR/USD Price Analysis: A move to the 1.0900 zone remains likely

EUR/USD reclaims the 1.0800 area and above after dropping to 1.0770.
Immediately to the upside now emerges the 2022 peak at 1.0887.

Pablo Piovano FXStreet

EUR/USD adds to Wednesday’s uptick and manages to retake the area above the key 1.0800 barrier on Thursday.

It seems the pair is moving within a range bound theme ahead of the potential resumption of the uptrend. Against that, the immediate resistance level comes at the so far YTD high at 1.0887 (January 18). Once cleared, it could lead up to a probable visit to the round level at 1.0900 in the relatively short-term horizon.

Furthermore, while above the short-term support line near 1.0610, extra gains should remain in store.

In the longer run, the constructive view remains unchanged while above the 200-day SMA at 1.0307.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0822
Today Daily Change	56
Today Daily Change %	0.31
Today daily open	1.0789

Trends
Daily SMA20	1.0687
Daily SMA50	1.0548
Daily SMA100	1.0214
Daily SMA200	1.031

Levels
Previous Daily High	1.0888
Previous Daily Low	1.0766
Previous Weekly High	1.0868
Previous Weekly Low	1.0639
Previous Monthly High	1.0736
Previous Monthly Low	1.0393
Daily Fibonacci 38.2%	1.0813
Daily Fibonacci 61.8%	1.0841
Daily Pivot Point S1	1.0741
Daily Pivot Point S2	1.0693
Daily Pivot Point S3	1.062
Daily Pivot Point R1	1.0862
Daily Pivot Point R2	1.0936
Daily Pivot Point R3	1.0984

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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