EUR/USD Price Analysis: A move to the 200-day SMA emerges on the horizon

EUR/USD drops further and approach the 1.19 yardstick.
There is a minor support at 1.1887 (Fibo level).

Pablo Piovano FXStreet

EUR/USD accelerates the decline following the recent breakdown of the psychological 1.2000 hurdle at the end of the week.

The current downtrend picked up extra pace in the past hours and forced EUR/USD to recede to the proximity of 1.19 the figure. Momentum favours extra retracements with the next stop at the Fibo level (of the November-January rally) at 1.1887.

A breach of this level should expose a potential move to the key 200-day SMA, today at 1.1808, and the consequent challenge of the constructive bias.

If the selling impetus gathers further steam, then the pair could test the 2008-2020 support line in the 1.1600 area.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1932
Today Daily Change	63
Today Daily Change %	-0.33
Today daily open	1.1971

Trends
Daily SMA20	1.2097
Daily SMA50	1.2137
Daily SMA100	1.2037
Daily SMA200	1.1817

Levels
Previous Daily High	1.2068
Previous Daily Low	1.1962
Previous Weekly High	1.2243
Previous Weekly Low	1.2065
Previous Monthly High	1.2243
Previous Monthly Low	1.1952
Daily Fibonacci 38.2%	1.2002
Daily Fibonacci 61.8%	1.2027
Daily Pivot Point S1	1.1932
Daily Pivot Point S2	1.1894
Daily Pivot Point S3	1.1827
Daily Pivot Point R1	1.2038
Daily Pivot Point R2	1.2106
Daily Pivot Point R3	1.2144

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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