EUR/USD Price Analysis: A deeper drop could retest 1.0830

EUR/USD adds to Friday’s corrective decline well below 1.1000.
The weekly low near 1.0830 emerges as the next support of note.

Pablo Piovano FXStreet

EUR/USD retreats to 3-day lows in the mid-1.0900s following a failed attempt to retake the key barrier at 1.1000 the figure on Monday.

Further weakness appears on the cards in the very near term for the pair. Against that, there is an initial support at the weekly low at 1.0831 (April 10) prior to April low at 1.0788 (April 3).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0373.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0954
Today Daily Change	49
Today Daily Change %	-0.35
Today daily open	1.0992

Trends
Daily SMA20	1.0878
Daily SMA50	1.0743
Daily SMA100	1.071
Daily SMA200	1.037

Levels
Previous Daily High	1.1076
Previous Daily Low	1.0972
Previous Weekly High	1.1076
Previous Weekly Low	1.0837
Previous Monthly High	1.093
Previous Monthly Low	1.0516
Daily Fibonacci 38.2%	1.1012
Daily Fibonacci 61.8%	1.1036
Daily Pivot Point S1	1.0951
Daily Pivot Point S2	1.091
Daily Pivot Point S3	1.0847
Daily Pivot Point R1	1.1054
Daily Pivot Point R2	1.1117
Daily Pivot Point R3	1.1158

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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