EUR/USD Price Analysis: A drop to the 1.1170 zone remains on the cards

EUR/USD failed to test/surpass the 1.1300 level on Monday.
Focus seems to have shifted to the downside and to 1.1170/65.

Pablo Piovano FXStreet

EUR/USD is fading Monday’s gains and the inability to break above the 1.1300 level has now prompted market participants to re-focus on the downside.

Against this, the probability of a potential move to the area of recent weekly lows in the 1.1170/65 band has been picking up pace.

On the broader picture, and as long as the 200-day SMA at 1.1033 holds the downside, further gains in the pair remain on the table.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1226
Today Daily Change	47
Today Daily Change %	-0.14
Today daily open	1.1242

Trends
Daily SMA20	1.1265
Daily SMA50	1.1045
Daily SMA100	1.1002
Daily SMA200	1.1036

Levels
Previous Daily High	1.1288
Previous Daily Low	1.1217
Previous Weekly High	1.1348
Previous Weekly Low	1.1169
Previous Monthly High	1.1145
Previous Monthly Low	1.0767
Daily Fibonacci 38.2%	1.1261
Daily Fibonacci 61.8%	1.1244
Daily Pivot Point S1	1.121
Daily Pivot Point S2	1.1178
Daily Pivot Point S3	1.1139
Daily Pivot Point R1	1.1281
Daily Pivot Point R2	1.132
Daily Pivot Point R3	1.1352

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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