EUR/USD Price Analysis: A visit to the 2022 low not ruled out

EUR/USD reverses the initial spike to the 1.1230 region.
Next on the downside comes 1.1118 ahead of 1.1106.

Pablo Piovano FXStreet

EUR/USD adds to Monday’s weakness and revisits the 1.1140 region on turnaround Tuesday.

In case the selling pressure gathers extra steam, then the next support of note emerges at the weekly low at 1.1118 (February 28). The loss of this level opens the door to a probable test of the 2022 low at 1.1106 (February 24) seconded by the round levels at 1.1100 and then 1.1000.

The negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1608

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1147
Today Daily Change	93
Today Daily Change %	-0.56
Today daily open	1.121

Trends
Daily SMA20	1.1343
Daily SMA50	1.133
Daily SMA100	1.1381
Daily SMA200	1.1615

Levels
Previous Daily High	1.1246
Previous Daily Low	1.1142
Previous Weekly High	1.1391
Previous Weekly Low	1.1106
Previous Monthly High	1.1495
Previous Monthly Low	1.1106
Daily Fibonacci 38.2%	1.1207
Daily Fibonacci 61.8%	1.1182
Daily Pivot Point S1	1.1153
Daily Pivot Point S2	1.1096
Daily Pivot Point S3	1.1049
Daily Pivot Point R1	1.1257
Daily Pivot Point R2	1.1304
Daily Pivot Point R3	1.1361

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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