EUR/USD Price Analysis: Extra decline expected below 1.1780


  • EUR/USD clinches new lows near 1.1750 on Wednesday.
  • Extra downside could see the YTD low around 1.1700 retested.

EUR/USD remains fragile below 1.1800 and threatens to breach the 2020-2021 support line near 1.1780.

A sustainable break below this zone would be an important bearish event and carries the potential to accelerate losses to the 2021 low in the 1.1700 neighbourhood (March 31).

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2002.

The almost oversold condition of the pair could spark some near-term bounce, with the immediate target at the key 1.1880/90 band.

EUR/USD daily chart

EUR/USD

Overview
Today last price 1.1771
Today Daily Change 32
Today Daily Change % -0.08
Today daily open 1.1781
 
Trends
Daily SMA20 1.1853
Daily SMA50 1.202
Daily SMA100 1.1985
Daily SMA200 1.2006
 
Levels
Previous Daily High 1.1803
Previous Daily Low 1.1756
Previous Weekly High 1.188
Previous Weekly Low 1.1772
Previous Monthly High 1.2254
Previous Monthly Low 1.1845
Daily Fibonacci 38.2% 1.1774
Daily Fibonacci 61.8% 1.1785
Daily Pivot Point S1 1.1757
Daily Pivot Point S2 1.1733
Daily Pivot Point S3 1.1709
Daily Pivot Point R1 1.1804
Daily Pivot Point R2 1.1827
Daily Pivot Point R3 1.1851

 

 

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