EUR/USD Price Analysis: A drop to the YTD low appears on the table

EUR/USD rebounds from new eight-month lows around 1.0490.
Further selling pressure should target the YTD low at 1.0481.

Pablo Piovano FXStreet

EUR/USD manages to regain some pace soon after hitting fresh multi-month lows in the 1.0490 region on Thursday.

The continuation of the downward bias should leave the pair vulnerable to further losses with the immediate target at the 2023 low at 1.0481 (January 6).

While below the key 200-day SMA at 1.0827, the pair is likely to face extra weakness.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0538
Today Daily Change	67
Today Daily Change %	0.33
Today daily open	1.0503

Trends
Daily SMA20	1.069
Daily SMA50	1.0845
Daily SMA100	1.0865
Daily SMA200	1.0829

Levels
Previous Daily High	1.0575
Previous Daily Low	1.0488
Previous Weekly High	1.0737
Previous Weekly Low	1.0615
Previous Monthly High	1.1065
Previous Monthly Low	1.0766
Daily Fibonacci 38.2%	1.0521
Daily Fibonacci 61.8%	1.0542
Daily Pivot Point S1	1.0469
Daily Pivot Point S2	1.0435
Daily Pivot Point S3	1.0383
Daily Pivot Point R1	1.0556
Daily Pivot Point R2	1.0608
Daily Pivot Point R3	1.0642

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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