EUR/USD New York Price Forecast: Euro extends losses, challenges 1.8000 figure

EUR/USD is consolidating sideways near 34-month lows as the new week is kicking off.
The level to beat for bears is the 1.0826 support.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is trading in a bear trend below the main daily simple moving averages (SMAs) as the quote under strong selling pressure near 34-month lows. The spot is trading below the 2019 lows. NY Empire State Manufacturing Index jumps to 12.9 in February vs. 5 expected.

EUR/USD four-hour chart

The euro broke below a bear channel while trading well below the main SMAs on the four-hour chart. The spot had another bear leg challenging the 1.0800 level and multi-year lows. Bears will be looking for a break below the 1.0796 support to reach the 1.0752 and 1.0700 price levels. Resistance is seen near the 1.0830, 1.0880 and 1.0925 levels, according to the Technical Confluences Indicator.

Resistance: 1.0830, 1.0880, 1.0925

Support: 1.0796, 1.0752, 1.0700

Additional key levels

EUR/USD

Overview
Today last price	1.0802
Today Daily Change	-0.0032
Today Daily Change %	-0.30
Today daily open	1.0834

Trends
Daily SMA20	1.0984
Daily SMA50	1.1075
Daily SMA100	1.1065
Daily SMA200	1.1113

Levels
Previous Daily High	1.0851
Previous Daily Low	1.0829
Previous Weekly High	1.0958
Previous Weekly Low	1.0827
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.0843
Daily Fibonacci 61.8%	1.0838
Daily Pivot Point S1	1.0825
Daily Pivot Point S2	1.0816
Daily Pivot Point S3	1.0803
Daily Pivot Point R1	1.0847
Daily Pivot Point R2	1.086
Daily Pivot Point R3	1.0869

Author

Flavio Tosti

Independent Analyst

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