EUR/USD Price Analysis: A drop to 1.1780 stays on the cards

EUR/USD fades part of the recent rebound on Monday.
The 1.1780 area remains a magnet for EUR-sellers.

Pablo Piovano FXStreet

EUR/USD’s bull run seems to have lost momentum near 1.1880 once again on Monday.

While the upside remains capped by this area, further pullbacks are likely. Against this, the next stop on the downside comes in at the so far monthly lows around 1.1780 (July 7). This area of contention is reinforced by the 2020-2021 support line.

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2001.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1838
Today Daily Change	44
Today Daily Change %	-0.30
Today daily open	1.1874

Trends
Daily SMA20	1.1913
Daily SMA50	1.2056
Daily SMA100	1.2006
Daily SMA200	1.2005

Levels
Previous Daily High	1.1881
Previous Daily Low	1.1825
Previous Weekly High	1.1895
Previous Weekly Low	1.1782
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.186
Daily Fibonacci 61.8%	1.1846
Daily Pivot Point S1	1.1839
Daily Pivot Point S2	1.1804
Daily Pivot Point S3	1.1783
Daily Pivot Point R1	1.1895
Daily Pivot Point R2	1.1916
Daily Pivot Point R3	1.1951

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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