EUR/USD Technical Analysis: Recent tops and the 55-day SMA keeps limiting extra gains

EUR/USD remains bid above the 1.1200 handle although gains are still capped by the 1.1260/70 region, where converge the 55-day SMA and recent tops.
Further consolidation is likely in the near term, although the inability to clear this initial hurdle could motivate sellers to step in once again and put the pair under downside pressure.
In the broader picture, the negative outlook on spot stays unchanged while below the key multi-month resistance line at 1.1299. Against this backdrop, the door for another visit to 2019 lows in the 1.1100 neighbourhood remains well open.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1233
Today Daily Change	23
Today Daily Change %	0.10
Today daily open	1.1222

Trends
Daily SMA20	1.121
Daily SMA50	1.125
Daily SMA100	1.132
Daily SMA200	1.1402

Levels
Previous Daily High	1.1264
Previous Daily Low	1.1222
Previous Weekly High	1.1254
Previous Weekly Low	1.1166
Previous Monthly High	1.1326
Previous Monthly Low	1.1111
Daily Fibonacci 38.2%	1.1238
Daily Fibonacci 61.8%	1.1248
Daily Pivot Point S1	1.1208
Daily Pivot Point S2	1.1193
Daily Pivot Point S3	1.1164
Daily Pivot Point R1	1.125
Daily Pivot Point R2	1.1279
Daily Pivot Point R3	1.1293

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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