EUR/USD Price Analysis: A deeper pullback exposes 1.1700

EUR/USD rebounds from 3-month lows near 1.1750.
Extra downside could see the YTD low around 1.1700 retested.

Pablo Piovano FXStreet

In spite of the current bounce, EUR/USD remains fragile below 1.1800 and flirts with the 2020-2021 support line near 1.1780.

A sustainable break below this zone would be an important bearish event and carries the potential to accelerate losses to the 2021 low in the 1.1700 neighbourhood (March 31).

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2002.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1791
Today Daily Change	23
Today Daily Change %	-0.03
Today daily open	1.1794

Trends
Daily SMA20	1.1847
Daily SMA50	1.2013
Daily SMA100	1.1982
Daily SMA200	1.2006

Levels
Previous Daily High	1.1805
Previous Daily Low	1.1752
Previous Weekly High	1.188
Previous Weekly Low	1.1772
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.1784
Daily Fibonacci 61.8%	1.1772
Daily Pivot Point S1	1.1762
Daily Pivot Point S2	1.1731
Daily Pivot Point S3	1.1709
Daily Pivot Point R1	1.1815
Daily Pivot Point R2	1.1836
Daily Pivot Point R3	1.1868

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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