EUR/USD Price Analysis: A breach of 1.1170 is not ruled out

EUR/USD extends the side-lined fashion above 1.1200 on Wednesday.
Focus seems to have shifted to the downside and to 1.1170/65.

Pablo Piovano FXStreet

EUR/USD has come under further selling pressure on Wednesday, although it has so far managed well to keep business above 1.12 the figure.

The inability to regain the area of recent tops in the mid-1.1300s carries the potential to spark a leg lower to, initially, the 1.1170/65 band.

On the broader picture, and as long as the 200-day SMA at 1.1035 holds the downside, further gains in the pair remain on the table.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1209
Today Daily Change	43
Today Daily Change %	-0.22
Today daily open	1.1234

Trends
Daily SMA20	1.1269
Daily SMA50	1.1052
Daily SMA100	1.1006
Daily SMA200	1.1037

Levels
Previous Daily High	1.1262
Previous Daily Low	1.1191
Previous Weekly High	1.1348
Previous Weekly Low	1.1169
Previous Monthly High	1.1422
Previous Monthly Low	1.1097
Daily Fibonacci 38.2%	1.1218
Daily Fibonacci 61.8%	1.1235
Daily Pivot Point S1	1.1196
Daily Pivot Point S2	1.1158
Daily Pivot Point S3	1.1125
Daily Pivot Point R1	1.1267
Daily Pivot Point R2	1.13
Daily Pivot Point R3	1.1338

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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