EUR/USD hits fresh lows below 1.1380

US dollar strengthens during US session despite lower US yields.
Euro drops further versus the Swiss franc and the Pound.

Matías Salord FXStreet

The EUR/USD dropped further during the US session on the back of a stronger US dollar. Also, the euro is falling against its mains European rivals.

The pair bottomed at 1.1374, the lowest level since January 25. It remains near the lows with the bearish bias intact. During the last five trading days, it lost ground in four, making a sharp reversal after being rejected from above 1.1500.

The US Dollar Index is rising further despite lower US bond yield. The DXY broke above 96.00 and hit at 96.26, the highest level in over a week. While the euro is also lower against the Swiss franc and the pound. The common currency continues to correct lower against those currencies after reaching yesterday weekly highs.

EU Juncker mentioned he can not accept the idea of reopening the Brexit deal. Tomorrow he will meet with UK PM May.

EUR/USD Short-term levels to watch

Yesterday the EUR/USD pair closed below the 20-day moving average and today dropped under the 50-day MA that stands at 1.1390.

To the downside, support levels might be seen at 1.1370, 1.1350 (Jan 23 low) and 1.1350. On the upside, 1.1395 (20-hour moving average) is the immediate resistance and above 1.1410 and 1.1440 (Feb 5 high).

EUR/USD

Overview:
    Today Last Price: 1.1379
    Today Daily change: -0.0034 pips
    Today Daily change %: -0.30%
    Today Daily Open: 1.1413
Trends:
    Daily SMA20: 1.1423
    Daily SMA50: 1.1401
    Daily SMA100: 1.1437
    Daily SMA200: 1.1554
Levels:
    Previous Daily High: 1.1453
    Previous Daily Low: 1.1401
    Previous Weekly High: 1.1516
    Previous Weekly Low: 1.139
    Previous Monthly High: 1.1586
    Previous Monthly Low: 1.1289
    Daily Fibonacci 38.2%: 1.1421
    Daily Fibonacci 61.8%: 1.1433
    Daily Pivot Point S1: 1.1392
    Daily Pivot Point S2: 1.1371
    Daily Pivot Point S3: 1.1341
    Daily Pivot Point R1: 1.1443
    Daily Pivot Point R2: 1.1473
    Daily Pivot Point R3: 1.1494

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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