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EUR/USD Technical Analysis: A visit to 1.1853 remains on the cards near term

  • Spot keeps the underlying bid tone at the beginning of the week and a test of June’s peak at 1.1853 still remains in the pipeline.
  • A close above Friday’s tops just beyond 1.1800 the figure should open the door for a visit to the mid-1.1800s, regarded as the last defence of a test of the critical 200-day SMA, today near 1.1950.
  • Adding to the constructive bias, the pair continues to trade above the daily cloud and the 100-day SMA.

EUR/USD daily chart

Daily high: 1.1753

Daily low: 1.1723

Support Levels

S1: 1.1720

S2: 1.1691

S3: 1.1649

Resistance Levels

R1: 1.1791

R2: 1.1832

R3: 1.1861

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