EUR/USD Price Analysis: Current decline now eyes 1.1000 (and below)

EUR/USD dropped further and recorded fresh 2020 lows near 1.1030.
Further downside should target the key support at 1.10 the figure.

Pablo Piovano FXStreet

There is no respite for the decline in EUR/USD so far this week. After breaching below the 55-day SMA, the pair’s downside gathered extra steam and is now navigating yearly lows in the 1.1030 zone.

That said, the next relevant support emerges at the psychological mark at 1.10 the figure ahead of November 2019 lows around 1.0980.

The offered bias in the spot should remain unchanged below the 55-day SMA, today at 1.1089.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1034
Today Daily Change	33
Today Daily Change %	-0.20
Today daily open	1.1056

Trends
Daily SMA20	1.114
Daily SMA50	1.1104
Daily SMA100	1.1073
Daily SMA200	1.1133

Levels
Previous Daily High	1.1109
Previous Daily Low	1.1036
Previous Weekly High	1.1173
Previous Weekly Low	1.1086
Previous Monthly High	1.124
Previous Monthly Low	1.1002
Daily Fibonacci 38.2%	1.1064
Daily Fibonacci 61.8%	1.1081
Daily Pivot Point S1	1.1025
Daily Pivot Point S2	1.0994
Daily Pivot Point S3	1.0952
Daily Pivot Point R1	1.1098
Daily Pivot Point R2	1.114
Daily Pivot Point R3	1.1171

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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