EUR/USD Price Analysis: Corrective downside could test 1.0730

EUR/USD is extending the bearish note below 1.09 on Tuesday.
Immediately to the downside emerges the April’s low at 1.0727.

Pablo Piovano FXStreet

EUR/USD came under extra selling pressure on Tuesday, extending Friday’s rejection from the area above 1.1000 the figure.

The continuation of the downtrend should face the initial support at the Fibo retracement at 1.0814 ahead of the more relevant April’s low in the 1.0730/25 band.

In the same line, the downside pressure is expected to mitigate once the 200-day SMA, today at 1.1031 is cleared.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.085
Today Daily Change	101
Today Daily Change %	-0.54
Today daily open	1.0909

Trends
Daily SMA20	1.0882
Daily SMA50	1.0965
Daily SMA100	1.1005
Daily SMA200	1.1035

Levels
Previous Daily High	1.0981
Previous Daily Low	1.0896
Previous Weekly High	1.1019
Previous Weekly Low	1.081
Previous Monthly High	1.1039
Previous Monthly Low	1.0727
Daily Fibonacci 38.2%	1.0928
Daily Fibonacci 61.8%	1.0949
Daily Pivot Point S1	1.0876
Daily Pivot Point S2	1.0843
Daily Pivot Point S3	1.079
Daily Pivot Point R1	1.0962
Daily Pivot Point R2	1.1014
Daily Pivot Point R3	1.1047

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.

EUR/USD recedes to daily lows near 1.1850

EUR/USD keeps its bearish momentum well in place, slipping back to the area of 1.1850 to hit daily lows on Monday. The pair’s continuation of the leg lower comes amid decent gains in the US Dollar in a context of scarce volatility and thin trade conditions due to the inactivity in the US markets.

GBP/USD resumes the downtrend, back to the low-1.3600s

GBP/USD rapidly leaves behind Friday’s decent advance, refocusing on the downside and retreating to the 1.3630 region at the beginning of the week. In the meantime, the British Pound is expected to remain under the microscope ahead of the release of the key UK labour market report on Tuesday.

Gold looks inconclusive around $5,000

Gold partially fades Friday’s strong recovery, orbiting around the key $5,000 region per troy ounce in a context of humble gains in the Greenback on Monday. Additing to the vacillating mood, trade conditions remain thin amid the observance of the Presidents Day holiday in the US.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.