EUR/USD Price Analysis: Another test of 1.1020 looks in the pipeline

EUR/USD reverses the early move to tops near 1.1150.
Next on the downside emerges the weekly low at 1.1020.

Pablo Piovano FXStreet

EUR/USD trades in a volatile fashion and trims initial gains to the 1.1150 zone, leaving the door open to further retracement in the very near term.

Considering the recent price action, extra weakness should not be discarded and could motivate the pair to revisit the psychological support at 1.1000 the figure once the weekly low of 1.1020 (July 25) is cleared.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0712.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1081
Today Daily Change	102
Today Daily Change %	-0.05
Today daily open	1.1086

Trends
Daily SMA20	1.105
Daily SMA50	1.0906
Daily SMA100	1.0897
Daily SMA200	1.0708

Levels
Previous Daily High	1.1107
Previous Daily Low	1.1038
Previous Weekly High	1.1276
Previous Weekly Low	1.1108
Previous Monthly High	1.1012
Previous Monthly Low	1.0662
Daily Fibonacci 38.2%	1.1081
Daily Fibonacci 61.8%	1.1064
Daily Pivot Point S1	1.1047
Daily Pivot Point S2	1.1008
Daily Pivot Point S3	1.0978
Daily Pivot Point R1	1.1116
Daily Pivot Point R2	1.1146
Daily Pivot Point R3	1.1185

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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