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.

Pablo Piovano FXStreet

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

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.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.