EUR/USD Price Analysis: A drop to the 2017 low near 1.0340 looks likely

EUR/USD drops further and breaks below 1.0500.
Extra losses could now extend to the 1.0340 area.

Pablo Piovano FXStreet

EUR/USD remains well into the negative territory and tests lows in the 1.0470 zone, an area last traded back in January 2017.

The downside momentum in the pair remains well and sound and now the door looks wide open to a potential visit to the 2017 low at 1.0340 (April 3) sooner rather than later.

While below the 2-month line around 1.1000, extra losses remain well on the cards for the pair.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0489
Today Daily Change	94
Today Daily Change %	-0.63
Today daily open	1.0556

Trends
Daily SMA20	1.0842
Daily SMA50	1.0989
Daily SMA100	1.1159
Daily SMA200	1.1394

Levels
Previous Daily High	1.0655
Previous Daily Low	1.0514
Previous Weekly High	1.0936
Previous Weekly Low	1.0761
Previous Monthly High	1.1233
Previous Monthly Low	1.0806
Daily Fibonacci 38.2%	1.0568
Daily Fibonacci 61.8%	1.0601
Daily Pivot Point S1	1.0496
Daily Pivot Point S2	1.0435
Daily Pivot Point S3	1.0355
Daily Pivot Point R1	1.0636
Daily Pivot Point R2	1.0715
Daily Pivot Point R3	1.0776

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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