EUR/USD Price Analysis: Upside bias alleviated below 1.0800

EUR/USD keeps the inconclusive price action well in place.
Further weakness could retest the 55-day and 100-day SMAs.

Pablo Piovano FXStreet

EUR/USD keeps the range bound theme in place above 1.0900 on Wednesday.

Despite the current inconclusive price action, further gains remain well on the table for the time being. That said, the pair needs to surpass the monthly high at 1.0970 (June 16) ideally in the very near term to allow for a potential test of the psychological 1.1000 mark.

The inability to advance in a convincing fashion in the next sessions could spark a corrective move to, initially, the 55-day SMA at 1.0881 prior to the 100-day SMA at 1.0806. The loss of the latter should alleviate the pair’s upside pressure.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0554.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0914
Today Daily Change	28
Today Daily Change %	-0.04
Today daily open	1.0918

Trends
Daily SMA20	1.0777
Daily SMA50	1.088
Daily SMA100	1.0808
Daily SMA200	1.0551

Levels
Previous Daily High	1.0946
Previous Daily Low	1.0893
Previous Weekly High	1.0971
Previous Weekly Low	1.0733
Previous Monthly High	1.1092
Previous Monthly Low	1.0635
Daily Fibonacci 38.2%	1.0913
Daily Fibonacci 61.8%	1.0926
Daily Pivot Point S1	1.0892
Daily Pivot Point S2	1.0865
Daily Pivot Point S3	1.0838
Daily Pivot Point R1	1.0945
Daily Pivot Point R2	1.0972
Daily Pivot Point R3	1.0999

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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