- 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
|Today last price||1.1771|
|Today Daily Change||32|
|Today Daily Change %||-0.08|
|Today daily open||1.1781|
|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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