EUR/USD Price Analysis: A test of 2021 low not ruled out

EUR/USD comes under pressure and falters above 1.1600.
A deeper move to the YTD low at 1.1524 is not discarded.

Pablo Piovano FXStreet

EUR/USD remains on the defensive and returns to the sub-1.1600 area on Tuesday.

EUR/USD’s earlier bullish attempt ran out of steam just past 1.1600 the figure and forced the pair to refocus on the downside and on another potential visit to the 2021 low at 1.1524 (October 12) at the same time.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side below the key 200-day SMA, today at 1.1898.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1586
Today Daily Change	31
Today Daily Change %	-0.17
Today daily open	1.1606

Trends
Daily SMA20	1.1598
Daily SMA50	1.1694
Daily SMA100	1.1763
Daily SMA200	1.1903

Levels
Previous Daily High	1.1609
Previous Daily Low	1.1546
Previous Weekly High	1.1692
Previous Weekly Low	1.1535
Previous Monthly High	1.1692
Previous Monthly Low	1.1524
Daily Fibonacci 38.2%	1.1585
Daily Fibonacci 61.8%	1.157
Daily Pivot Point S1	1.1565
Daily Pivot Point S2	1.1524
Daily Pivot Point S3	1.1502
Daily Pivot Point R1	1.1628
Daily Pivot Point R2	1.165
Daily Pivot Point R3	1.1691

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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