EUR/USD Price Analysis: A breach of 1.1300 exposes the 2022 low

EUR/USD resumes the upside and revisits the 1.1350 zone.
The 1.1300 neighbourhood holds the downside so far.

Pablo Piovano FXStreet

The inability of EUR/USD to return to the area of YTD highs near 1.1480 in the short-term horizon should prompt the re-emergence of the selling sentiment.

Against that, a break below the 1.1300 are carries the potential to spark a deeper decline to, initially, the YTD low at 1.1272 (January 4) ahead of the December 2021 low at 1.1221 (December 15).

The longer term negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1715.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1352
Today Daily Change	58
Today Daily Change %	0.42
Today daily open	1.1304

Trends
Daily SMA20	1.1347
Daily SMA50	1.1319
Daily SMA100	1.1487
Daily SMA200	1.1719

Levels
Previous Daily High	1.1369
Previous Daily Low	1.1303
Previous Weekly High	1.1483
Previous Weekly Low	1.1285
Previous Monthly High	1.1386
Previous Monthly Low	1.1222
Daily Fibonacci 38.2%	1.1328
Daily Fibonacci 61.8%	1.1344
Daily Pivot Point S1	1.1282
Daily Pivot Point S2	1.1259
Daily Pivot Point S3	1.1216
Daily Pivot Point R1	1.1348
Daily Pivot Point R2	1.1391
Daily Pivot Point R3	1.1414

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.

EUR/USD weakens toward 1.1600 as firm US data revives the US Dollar

The EUR/USD edged lower on Thursday, down some 0.21% as market sentiment remains risk averse due to the ongoing conflict in the Middle East. This and solid US economic data pushed the pair lower towards the 1.1600 figure ahead of Friday’s session.

GBP/USD drifts lower heading into NFP range

GBP/USD edged lower by 0.2% on Thursday, settling close to 1.3350 in a strained trading session that kept the pair pinned near three-month lows. Price briefly recovered earlier in the day on reports that Iran had indirectly signaled openness to talks with the CIA, but the bounce faded as Israeli officials reportedly advised Washington to disregard the overture.

Gold slumps below $5,100 as US Dollar gains

Gold price tumbles to near $5,085 during the early Asian session on Friday. The precious metal loses ground amid a stronger US Dollar. The US employment report for February will take center stage later on Friday.

NYSE parent Intercontinental Exchange partners with OKX, invests at a $25B valuation

OKX announced an investment from Intercontinental Exchange, raising its valuation to $25 billion, alongside a partnership to expand regulated crypto futures and tokenized equity offerings globally.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.