EUR/USD Price Analysis: Extra upside seen above 1.1400

EUR/USD extends the corrective climb to 1.1445/50.
The 5-month support line holds the downside near 1.1400.

Pablo Piovano FXStreet

EUR/USD moves further north and reaches the mid-1.1400s ahead of the key US CPI release on Thursday.

In the meantime, further gains in the pair remains on the table while above the 5-month line, today around 1.1400. Beyond this area, EUR/USD should be able to attempt another visit to the 2022 high at 1.1483 (February 4) just ahead of the 200-week SMA, today at 1.1496. Between 1.1500 and 1.1600 there are no resistance levels of note, leaving the October 2021 top at 1.1692 as the potential longer-term target.

In the longer run, the negative outlook remains in place while below the key 200-day SMA at 1.1664.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1437
Today Daily Change	33
Today Daily Change %	0.11
Today daily open	1.1425

Trends
Daily SMA20	1.1336
Daily SMA50	1.1323
Daily SMA100	1.142
Daily SMA200	1.1668

Levels
Previous Daily High	1.1448
Previous Daily Low	1.1403
Previous Weekly High	1.1484
Previous Weekly Low	1.1138
Previous Monthly High	1.1483
Previous Monthly Low	1.1121
Daily Fibonacci 38.2%	1.1431
Daily Fibonacci 61.8%	1.142
Daily Pivot Point S1	1.1403
Daily Pivot Point S2	1.138
Daily Pivot Point S3	1.1358
Daily Pivot Point R1	1.1448
Daily Pivot Point R2	1.1471
Daily Pivot Point R3	1.1493

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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