EUR/USD Price Analysis: Downside pressure should alleviate above 1.0700

Pablo Piovano FXStreet

- EUR/USD regains the smile and briefly surpasses the 1.0600 barrier.

- Once the 1.0700 region is cleared, the pair’s selling bias could alleviate somewhat.

EUR/USD picks up some buying interest and manages to surpass the key hurdle at 1.0600 the figure on Monday.

In case bulls push harder, the pair should meet the next hurdle at the monthly high of 1.0694 (October 24), which comes just ahead of the round level of 1.0700 and prior to the weekly peaks of 1.0736 (September 20) and 1.0767 (September 12).

In the meantime, while below the 200-day SMA at 1.0811, the pair’s outlook should remain negative.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0597
Today Daily Change	70
Today Daily Change %	0.31
Today daily open	1.0564

Trends
Daily SMA20	1.0561
Daily SMA50	1.066
Daily SMA100	1.0819
Daily SMA200	1.0814

Levels
Previous Daily High	1.0597
Previous Daily Low	1.0536
Previous Weekly High	1.0695
Previous Weekly Low	1.0522
Previous Monthly High	1.0882
Previous Monthly Low	1.0488
Daily Fibonacci 38.2%	1.0574
Daily Fibonacci 61.8%	1.0559
Daily Pivot Point S1	1.0534
Daily Pivot Point S2	1.0504
Daily Pivot Point S3	1.0473
Daily Pivot Point R1	1.0596
Daily Pivot Point R2	1.0627
Daily Pivot Point R3	1.0658

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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