EUR/USD Price Analysis: Sustained gains seen above 1.0390

EUR/USD extends the upside momentum and retests 1.0350.
Extra gains await on a break above 1.0390.

Pablo Piovano FXStreet

EUR/USD adds to the weekly rebound and revisits the 1.0350 region on Thursday.

The continuation of the ongoing upside looks favoured in the short term. Immediately to the upside emerges the August high at 1.0368 (August 10), an area coincident with the 55-day SMA.

The breakout of the latter should pave the way for a challenge of the 6-month resistance line around 1.0390. If the pair clears the latter, it could then accelerate the upside to, initially, the 100-day SMA at 1.0530.

In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0901.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0347
Today Daily Change	76
Today Daily Change %	0.46
Today daily open	1.03

Trends
Daily SMA20	1.0188
Daily SMA50	1.0346
Daily SMA100	1.0539
Daily SMA200	1.0909

Levels
Previous Daily High	1.0369
Previous Daily Low	1.0202
Previous Weekly High	1.0294
Previous Weekly Low	1.0123
Previous Monthly High	1.0486
Previous Monthly Low	0.9952
Daily Fibonacci 38.2%	1.0305
Daily Fibonacci 61.8%	1.0266
Daily Pivot Point S1	1.0212
Daily Pivot Point S2	1.0124
Daily Pivot Point S3	1.0045
Daily Pivot Point R1	1.0378
Daily Pivot Point R2	1.0457
Daily Pivot Point R3	1.0545

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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