EUR/USD Price Analysis: Immediate target comes around 1.0630

EUR/USD’s upside momentum faltered once again around 1.0630.
The breakout of that resistance could lead up to a test of 1.0713.

Pablo Piovano FXStreet

EUR/USD gives away initial gains and sinks in the red territory well south of the 1.0600 support on Thursday.

Subsequent bullish attempts need to clear the short-term top in the 1.0630/35 band (January 4,5) to allow for a potential visit to the weekly top at 1.0713 (December 30). Once cleared, the pair could then confront the December 2022 peak at 1.0736 (December 15).

The constructive outlook for EUR/USD should remain unchanged while above the key 200-day SMA, today at 1.0314.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.055
Today Daily Change	89
Today Daily Change %	-0.50
Today daily open	1.0603

Trends
Daily SMA20	1.0612
Daily SMA50	1.0385
Daily SMA100	1.0139
Daily SMA200	1.0318

Levels
Previous Daily High	1.0636
Previous Daily Low	1.0541
Previous Weekly High	1.0713
Previous Weekly Low	1.0607
Previous Monthly High	1.0736
Previous Monthly Low	1.0393
Daily Fibonacci 38.2%	1.0599
Daily Fibonacci 61.8%	1.0577
Daily Pivot Point S1	1.0551
Daily Pivot Point S2	1.0499
Daily Pivot Point S3	1.0456
Daily Pivot Point R1	1.0646
Daily Pivot Point R2	1.0688
Daily Pivot Point R3	1.074

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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