EUR/USD Price Analysis: Extra consolidation appears in store near term

EUR/USD adds to Monday’s pullback, always below 1.0700.
Further weakness could retest the monthly low near 1.0610.

Pablo Piovano FXStreet

EUR/USD keeps the side-lined theme well in place in the lower end of the range in the sub-1.0700 region so far on Tuesday.

If bears push harder, then the pair could confront the next support of note at the February low at 1.0612 (February 17). The breakdown of this level could prompt a potential test of the 2023 low at 1.0481 (January 6) to start shaping up in the short-term horizon.

So far, the bearish sentiment is expected to persist as long as the 3-month resistance line, today just beyond 1.0900 the figure, caps the upside.

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0328.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0658
Today Daily Change	46
Today Daily Change %	-0.25
Today daily open	1.0685

Trends
Daily SMA20	1.0788
Daily SMA50	1.0728
Daily SMA100	1.0421
Daily SMA200	1.033

Levels
Previous Daily High	1.0705
Previous Daily Low	1.067
Previous Weekly High	1.0805
Previous Weekly Low	1.0613
Previous Monthly High	1.093
Previous Monthly Low	1.0483
Daily Fibonacci 38.2%	1.0683
Daily Fibonacci 61.8%	1.0692
Daily Pivot Point S1	1.0668
Daily Pivot Point S2	1.0652
Daily Pivot Point S3	1.0634
Daily Pivot Point R1	1.0703
Daily Pivot Point R2	1.0721
Daily Pivot Point R3	1.0737

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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