EUR/USD Price Analysis: Below 1.1762 emerges 1.1704

EUR/USD records new 3-month lows around 1.1765.
Extra downside could see the 1.17 neighbourhood retested.

Pablo Piovano FXStreet

EUR/USD’s downtrend gathers steam below the 1.1800 mark on Monday.

While the upside remains capped by the 1.1880/90 band, further pullbacks remain in the pipeline.

Against this, the breach of the 2020-2021 support line (around 1.1770) would be an important bearish event and carries the potential to accelerate losses to, initially, the Fibo level near 1.1760 ahead of the 2021 low in the 1.1700 neighbourhood (March 31).

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2002.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1778
Today Daily Change	48
Today Daily Change %	-0.25
Today daily open	1.1807

Trends
Daily SMA20	1.1867
Daily SMA50	1.2034
Daily SMA100	1.199
Daily SMA200	1.2006

Levels
Previous Daily High	1.1822
Previous Daily Low	1.1792
Previous Weekly High	1.188
Previous Weekly Low	1.1772
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.1804
Daily Fibonacci 61.8%	1.1811
Daily Pivot Point S1	1.1792
Daily Pivot Point S2	1.1777
Daily Pivot Point S3	1.1762
Daily Pivot Point R1	1.1822
Daily Pivot Point R2	1.1837
Daily Pivot Point R3	1.1852

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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