EUR/USD Price Analysis: Decline looks supported near 1.1060

EUR/USD is bouncing of earlier 2020 lows at 1.1075.
The 100-day SMA/support line near 1.1060 act as solid support.

Pablo Piovano FXStreet

EUR/USD is struggling for direction on Wednesday, managing to regain some poise after bottoming out in new yearly lows at 1.1075.

If sellers remain in control, the pair could attempt a visit to the 1.1070/65 band, where converge the 100-day SMA and the 3-month support line.

The offered bias in the spot should alleviate somewhat above the 55-day SMA, today at 1.1090.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1085
Today Daily Change	19
Today Daily Change %	-0.02
Today daily open	1.1087

Trends
Daily SMA20	1.1143
Daily SMA50	1.1101
Daily SMA100	1.1072
Daily SMA200	1.1135

Levels
Previous Daily High	1.1118
Previous Daily Low	1.1086
Previous Weekly High	1.1173
Previous Weekly Low	1.1086
Previous Monthly High	1.124
Previous Monthly Low	1.1002
Daily Fibonacci 38.2%	1.1098
Daily Fibonacci 61.8%	1.1106
Daily Pivot Point S1	1.1076
Daily Pivot Point S2	1.1065
Daily Pivot Point S3	1.1044
Daily Pivot Point R1	1.1108
Daily Pivot Point R2	1.1129
Daily Pivot Point R3	1.114

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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