EUR/USD Price Analysis: Further upside in store above 1.0690

EUR/USD faces a corrective decline and drops to 1.0860.
The short-term bullish bias remains unchanged above 1.0690.

Pablo Piovano FXStreet

EUR/USD retreats for the second session in a row and revisits the 1.0860 region on Friday.

While above the short-term support line around 1.0690, extra gains should remain in store for the pair.

Indeed, the continuation of the uptrend now needs to rapidly clear the 2023 high at 1.0929 (January 26) to allow for a test of the weekly top at 1.0936 (April 21 2022). A sustainable break above this level could pave the way for a challenge of the key barrier at 1.1000 the figure sooner rather than later.

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0309.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0865
Today Daily Change	41
Today Daily Change %	-0.25
Today daily open	1.0892

Trends
Daily SMA20	1.0762
Daily SMA50	1.0613
Daily SMA100	1.0269
Daily SMA200	1.0311

Levels
Previous Daily High	1.093
Previous Daily Low	1.085
Previous Weekly High	1.0888
Previous Weekly Low	1.0766
Previous Monthly High	1.0736
Previous Monthly Low	1.0393
Daily Fibonacci 38.2%	1.0881
Daily Fibonacci 61.8%	1.0899
Daily Pivot Point S1	1.0852
Daily Pivot Point S2	1.0812
Daily Pivot Point S3	1.0773
Daily Pivot Point R1	1.0931
Daily Pivot Point R2	1.097
Daily Pivot Point R3	1.101

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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