EUR/USD Price Analysis: Euro easing from multi-month tops, approaching 1.1300 figure

EUR/USD is losing steam while correcting down from the 2020 tops.
A deeper correction down cannot be ruled out.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD is currently retracing and erasing last Friday’s surge while spanning about 200 pips in a single session, which is rather unusual.

EUR/USD four-hour chart

EUR/USD is retracing down from the 2020 highs while trading well above its main SMAs. Bulls probably see this as a buying opportunity and the market might find some support near the 1.1288, 1.1230 and 1.1171 levels according to the Technical Confluences Indicator. On the flip side, resistance is seen near 1.1360, 1.1418 and 1.1441 levels.

Resistance: 1.1360, 1.1418, 1.1441

Support: 1.1288, 1.1230, 1.1171

Additional key levels

EUR/USD

Overview
Today last price	1.131
Today Daily Change	-0.0141
Today Daily Change %	-1.23
Today daily open	1.1451

Trends
Daily SMA20	1.0982
Daily SMA50	1.1044
Daily SMA100	1.1065
Daily SMA200	1.1102

Levels
Previous Daily High	1.1497
Previous Daily Low	1.1285
Previous Weekly High	1.1355
Previous Weekly Low	1.1027
Previous Monthly High	1.1089
Previous Monthly Low	1.0778
Daily Fibonacci 38.2%	1.1416
Daily Fibonacci 61.8%	1.1366
Daily Pivot Point S1	1.1325
Daily Pivot Point S2	1.1199
Daily Pivot Point S3	1.1114
Daily Pivot Point R1	1.1537
Daily Pivot Point R2	1.1623
Daily Pivot Point R3	1.1749

Author

Flavio Tosti

Independent Analyst

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