EUR/USD Price Analysis: Door open to extra decline

EUR/USD returns to the negative territory near 1.1330.
Sellers aim at another visit to the 2022 low at 1.1272.

Pablo Piovano FXStreet

EUR/USD’s initial bullish attempt seems to have run out of steam in the proximity of 1.1380 on Thursday.

The bias appears tilted to further retracement in the very near term. That said, a deeper decline remains on the cards if spot breaks below the weekly low at 1.1314 (January 18). Such a move should open the door to a test of the so far YTD low at 1.1272 (January 4).

The longer term negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1719.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1335
Today Daily Change	38
Today Daily Change %	-0.10
Today daily open	1.1346

Trends
Daily SMA20	1.1348
Daily SMA50	1.1322
Daily SMA100	1.1492
Daily SMA200	1.1723

Levels
Previous Daily High	1.1357
Previous Daily Low	1.1317
Previous Weekly High	1.1483
Previous Weekly Low	1.1285
Previous Monthly High	1.1386
Previous Monthly Low	1.1222
Daily Fibonacci 38.2%	1.1342
Daily Fibonacci 61.8%	1.1332
Daily Pivot Point S1	1.1323
Daily Pivot Point S2	1.13
Daily Pivot Point S3	1.1282
Daily Pivot Point R1	1.1363
Daily Pivot Point R2	1.138
Daily Pivot Point R3	1.1403

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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