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EUR/USD Price Analysis: Bulls need to clear the 1.0700 region

  • EUR/USD comes under some selling pressure near 1.0650.
  • The pair’s bullish attempt falters once again ahead of 1.0700.

EUR/USD triggered a corrective knee-jerk following another attempt to test/surpass the 1.0700 neighbourhood on Tuesday.

The resumption of the buying interest should encourage the pair to challenge and leave behind the 1.0700 region as well as the provisional 55-day SMA (1.0716) to allow for a potential visit to the weekly top at 1.0804 (February 14).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0326.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0649
Today Daily Change47
Today Daily Change %-0.26
Today daily open1.0677
 
Trends
Daily SMA201.0661
Daily SMA501.0728
Daily SMA1001.0504
Daily SMA2001.0328
 
Levels
Previous Daily High1.0694
Previous Daily Low1.0622
Previous Weekly High1.0692
Previous Weekly Low1.0533
Previous Monthly High1.1033
Previous Monthly Low1.0533
Daily Fibonacci 38.2%1.0667
Daily Fibonacci 61.8%1.065
Daily Pivot Point S11.0635
Daily Pivot Point S21.0593
Daily Pivot Point S31.0563
Daily Pivot Point R11.0707
Daily Pivot Point R21.0737
Daily Pivot Point R31.0779

Author

Pablo Piovano

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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