EUR/USD Technical Analysis: Bullish outlook reaffirmed as euro holds above 1.1400

The EUR/USD pair pulled back during the US session but managed to hold on top of 1.1400 and then bounced back above, surpassing 1.1450.
The overall short-term bias favors the upside and a test of 1.1500 is still on the cards. Before that level resistances are seen at 1.1465 and 1.1480. The positive tone is likely to remain intact as long as it holds above 1.1420. A break under 1.1385 (uptrend line) could open the doors to an extension of the correction.

Matías Salord FXStreet

EUR/USD 15-minute chart

A daily close clearly above 1.1450 would favor more gains ahead, with a potential target at 1.1530. A failure around current levels, with a close under 1.1400, means that the consolidation range between 1.1300 and 1.1400 is still in place.

EUR/USD Daily chart

EUR/USD

Overview:
    Today Last Price: 1.1459
    Today Daily change: 86 pips
    Today Daily change %: 0.756%
    Today Daily Open: 1.1373
Trends:
    Previous Daily SMA20: 1.1353
    Previous Daily SMA50: 1.1391
    Previous Daily SMA100: 1.1488
    Previous Daily SMA200: 1.1703
Levels:
    Previous Daily High: 1.144
    Previous Daily Low: 1.1357
    Previous Weekly High: 1.1444
    Previous Weekly Low: 1.1269
    Previous Monthly High: 1.15
    Previous Monthly Low: 1.1216
    Previous Daily Fibonacci 38.2%: 1.1408
    Previous Daily Fibonacci 61.8%: 1.1389
    Previous Daily Pivot Point S1: 1.134
    Previous Daily Pivot Point S2: 1.1306
    Previous Daily Pivot Point S3: 1.1256
    Previous Daily Pivot Point R1: 1.1424
    Previous Daily Pivot Point R2: 1.1474
    Previous Daily Pivot Point R3: 1.1508

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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