EUR/USD Price Analysis: Below 1.10 exposes a drop to the 1.0980 area

EUR/USD is challenging once again the 1.10 region, or YTD lows.
The next support of relevance is located around 1.0980.

Pablo Piovano FXStreet

The persistent selling bias in EUR/USD has once again come to test the 1.10 neighbourhood and a tad below, where are located yearly lows.

A sustainable breach of the 1.10 mark is needed in order to allow for extra weakness with the initial target at the November’s low in the 1.0980 ahead of September’s lows in the 1.0930/20 band.

The negative view in the spot should remain unchanged below the 55-day SMA, today at 1.1088.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1001
Today Daily Change	33
Today Daily Change %	-0.19
Today daily open	1.1022

Trends
Daily SMA20	1.1114
Daily SMA50	1.1101
Daily SMA100	1.1072
Daily SMA200	1.113

Levels
Previous Daily High	1.1025
Previous Daily Low	1.0998
Previous Weekly High	1.1118
Previous Weekly Low	1.102
Previous Monthly High	1.124
Previous Monthly Low	1.1002
Daily Fibonacci 38.2%	1.1015
Daily Fibonacci 61.8%	1.1008
Daily Pivot Point S1	1.1005
Daily Pivot Point S2	1.0988
Daily Pivot Point S3	1.0978
Daily Pivot Point R1	1.1032
Daily Pivot Point R2	1.1042
Daily Pivot Point R3	1.1059

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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