EUR/USD Price Analysis: Corrective decline could retest the 100-day SMA

EUR/USD adds to Thursday’s decline and approaches 1.0700.
A deeper drop could revisit the 100-day SMA near 1.0615.

Pablo Piovano FXStreet

EUR/USD accelerates losses and sinks well south of 1.0800 the figure at the end of the week.

The corrective move could extend further in the near term and could put the 100-day SMA around 1.0615 back on the traders’ radar. Below the latter emerges the March low at 1.0516 (March 15).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0332.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0763
Today Daily Change	112
Today Daily Change %	-0.63
Today daily open	1.0831

Trends
Daily SMA20	1.0656
Daily SMA50	1.073
Daily SMA100	1.0607
Daily SMA200	1.0333

Levels
Previous Daily High	1.093
Previous Daily Low	1.0824
Previous Weekly High	1.076
Previous Weekly Low	1.0516
Previous Monthly High	1.1033
Previous Monthly Low	1.0533
Daily Fibonacci 38.2%	1.0865
Daily Fibonacci 61.8%	1.0889
Daily Pivot Point S1	1.0794
Daily Pivot Point S2	1.0756
Daily Pivot Point S3	1.0688
Daily Pivot Point R1	1.0899
Daily Pivot Point R2	1.0967
Daily Pivot Point R3	1.1005

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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