EUR/USD Price Analysis: A move to YTD low at 1.1524 looms closer

EUR/USD trades well on the defensive near 1.1540.
A drop to the YTD low at 1.1524 stays in the pipeline.

Pablo Piovano FXStreet

EUR/USD retreats to fresh multi-day lows in the 1.1540 region on Thursday.

As long as the pair keeps trading below recent tops near 1.1600, a move lower should not be ruled out. Against that, EUR/USD faces the next support at the weekly low at 1.1535 (October 29), which if cleared should open the door to a visit to the 2021 low at 1.1524 (October 12.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1892.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1548
Today Daily Change	74
Today Daily Change %	-0.55
Today daily open	1.1612

Trends
Daily SMA20	1.16
Daily SMA50	1.1687
Daily SMA100	1.1754
Daily SMA200	1.1897

Levels
Previous Daily High	1.1616
Previous Daily Low	1.1562
Previous Weekly High	1.1692
Previous Weekly Low	1.1535
Previous Monthly High	1.1692
Previous Monthly Low	1.1524
Daily Fibonacci 38.2%	1.1596
Daily Fibonacci 61.8%	1.1583
Daily Pivot Point S1	1.1577
Daily Pivot Point S2	1.1543
Daily Pivot Point S3	1.1523
Daily Pivot Point R1	1.1631
Daily Pivot Point R2	1.1651
Daily Pivot Point R3	1.1685

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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