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EUR/USD Price Analysis: Extra losses appear on the table

  • EUR/USD clinches new six-month lows near 1.0610.
  • Further decline opens the door to a drop to the 1.0515 zone.

EUR/USD keeps the negative price action well in place and retreats to fresh multi-month lows around 1.0615 on Friday.

If the pair breaches this level in the short-term horizon, it could then open the door to a potential retracement to the March low of 1.0516 (Mar 8), which is the last defence ahead of an assault on the 2023 low at 1.0481 (January 6).

While below the key 200-day SMA at 1.0828, the pair is likely to face extra weakness.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0656
Today Daily Change57
Today Daily Change %-0.04
Today daily open1.066
 
Trends
Daily SMA201.0745
Daily SMA501.0897
Daily SMA1001.0881
Daily SMA2001.083
 
Levels
Previous Daily High1.0674
Previous Daily Low1.0617
Previous Weekly High1.0769
Previous Weekly Low1.0632
Previous Monthly High1.1065
Previous Monthly Low1.0766
Daily Fibonacci 38.2%1.0639
Daily Fibonacci 61.8%1.0652
Daily Pivot Point S11.0627
Daily Pivot Point S21.0594
Daily Pivot Point S31.057
Daily Pivot Point R11.0683
Daily Pivot Point R21.0707
Daily Pivot Point R31.074

Author

Pablo Piovano

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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