- EUR/USD adds to the ongoing bearish move and drops below 1.0700.
- Extra decline appears in the pipeline below the 1.0770 region.
EUR/USD remains well on the defensive and drops to new lows in the sub-1.0700 zone on Tuesday.
The pair has recently broken below the 3-month support line near 1.0770, and this now allows for the downtrend to gather extra impulse in the near term. Against that, the next interim support comes at the 55-day SMA at 1.0662, while the breach of this region could open the door to a deeper retracement to the 2023 low at 1.0481 (January 6).
In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0319.
EUR/USD daily chart
|Today last price||1.07|
|Today Daily Change||55|
|Today Daily Change %||-0.28|
|Today daily open||1.073|
|Previous Daily High||1.0799|
|Previous Daily Low||1.071|
|Previous Weekly High||1.1033|
|Previous Weekly Low||1.0793|
|Previous Monthly High||1.093|
|Previous Monthly Low||1.0483|
|Daily Fibonacci 38.2%||1.0744|
|Daily Fibonacci 61.8%||1.0765|
|Daily Pivot Point S1||1.0693|
|Daily Pivot Point S2||1.0657|
|Daily Pivot Point S3||1.0604|
|Daily Pivot Point R1||1.0782|
|Daily Pivot Point R2||1.0835|
|Daily Pivot Point R3||1.0872|
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