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EUR/USD Price Analysis: A breach of 1.0800 appears in store

  • EUR/USD loses further ground and trades closer to 1.0800.
  • The loss of this level exposes a move to April low at 1.0788.

EUR/USD maintains the bearish price action and slips back to the vicinity of the 1.0800 neighbourhood on Wednesday.

The 1.0800 area appears supported by the temporary 100-day Simple Moving Average (SMA) at 1.0804 and the loss of this level could trigger a deeper drop to, initially, the April 3 low at 1.0788. Further south emerges the March 15 bottom of 1.0516.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0460.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0824
Today Daily Change60
Today Daily Change %-0.35
Today daily open1.0862
 
Trends
Daily SMA201.0977
Daily SMA501.0881
Daily SMA1001.0804
Daily SMA2001.0459
 
Levels
Previous Daily High1.0904
Previous Daily Low1.0855
Previous Weekly High1.1054
Previous Weekly Low1.0848
Previous Monthly High1.1095
Previous Monthly Low1.0788
Daily Fibonacci 38.2%1.0874
Daily Fibonacci 61.8%1.0886
Daily Pivot Point S11.0843
Daily Pivot Point S21.0824
Daily Pivot Point S31.0794
Daily Pivot Point R11.0893
Daily Pivot Point R21.0923
Daily Pivot Point R31.0942

Author

Pablo Piovano

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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