EUR/USD Price Analysis: Next target at the 1.1990/1.2000 zone

EUR/USD manages to rebound to the 1.1950 region.
Further up is located the 200-day SMA and the 1.2000 mark.

Pablo Piovano FXStreet

EUR/USD pushes higher and already regained the mid-1.1900s on Wednesday. Recent price action allowed the pair to put further distance from previous oversold levels (as per the daily RSI).

If the recovery gathers extra steam, then there is room for spot to challenge the 200-day SMA, today at 1.1993 ahead of the psychological 1.2000 hurdle. There is, however, a minor hurdle at a Fibo level at 1.1976.

The outlook for EUR/USD should shift to negative on a sustainable breakdown of the key 200-day SMA. Next weeks are expected to be crucial regarding this issue.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1943
Today Daily Change	38
Today Daily Change %	0.03
Today daily open	1.194

Trends
Daily SMA20	1.2115
Daily SMA50	1.2098
Daily SMA100	1.2032
Daily SMA200	1.1996

Levels
Previous Daily High	1.1953
Previous Daily Low	1.1881
Previous Weekly High	1.2147
Previous Weekly Low	1.1847
Previous Monthly High	1.2266
Previous Monthly Low	1.1986
Daily Fibonacci 38.2%	1.1925
Daily Fibonacci 61.8%	1.1908
Daily Pivot Point S1	1.1897
Daily Pivot Point S2	1.1853
Daily Pivot Point S3	1.1825
Daily Pivot Point R1	1.1968
Daily Pivot Point R2	1.1996
Daily Pivot Point R3	1.204

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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