EUR/USD Price Analysis: A drop below 1.0760 exposes further losses

EUR/USD picks up further downside traction near 1.0750.
Losses could accelerate below the 3-month line near 1.0760.

Pablo Piovano FXStreet

EUR/USD extends the corrective decline for the third consecutive session and flirts with the 1.0750 region at the beginning of the week.

A convincing breakdown of the 3-month support line around 1.0760 could open the door to extra weakness in the short-term horizon. Against that, there is an interim support at the 55-day SMA at 1.0655 prior to the 2023 low at 1.0481 (January 6).

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0318.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0758
Today Daily Change	42
Today Daily Change %	-0.32
Today daily open	1.0793

Trends
Daily SMA20	1.0842
Daily SMA50	1.0677
Daily SMA100	1.032
Daily SMA200	1.0319

Levels
Previous Daily High	1.094
Previous Daily Low	1.0793
Previous Weekly High	1.1033
Previous Weekly Low	1.0793
Previous Monthly High	1.093
Previous Monthly Low	1.0483
Daily Fibonacci 38.2%	1.0849
Daily Fibonacci 61.8%	1.0884
Daily Pivot Point S1	1.0744
Daily Pivot Point S2	1.0695
Daily Pivot Point S3	1.0597
Daily Pivot Point R1	1.0891
Daily Pivot Point R2	1.0989
Daily Pivot Point R3	1.1038

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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