EUR/USD Price Analysis: Extra losses are not ruled out


  • EUR/USD recorded fresh 2-month lows in the vicinity of 1.1630.
  • The next support of note lies at the March peaks near 1.1500.

EUR/USD remains well on the defensive in the second half of the week, managing to record new 2-month lows near 1.1630 during early trade.

While further retracements remain on the cards, a deeper pullback to the next support of relevance in the 1.1500 region (March tops) is not favoured for the time being. On the opposite side, the previous key contention area in the 1.1700 neighbourhood has now become the next upside target.

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1231.

EUR/USD daily chart

EUR/USD

Overview
Today last price 1.1639
Today Daily Change 44
Today Daily Change % -0.18
Today daily open 1.166
 
Trends
Daily SMA20 1.1827
Daily SMA50 1.1776
Daily SMA100 1.1464
Daily SMA200 1.1231
 
Levels
Previous Daily High 1.1719
Previous Daily Low 1.1651
Previous Weekly High 1.1901
Previous Weekly Low 1.1738
Previous Monthly High 1.1966
Previous Monthly Low 1.1696
Daily Fibonacci 38.2% 1.1677
Daily Fibonacci 61.8% 1.1693
Daily Pivot Point S1 1.1635
Daily Pivot Point S2 1.1609
Daily Pivot Point S3 1.1567
Daily Pivot Point R1 1.1702
Daily Pivot Point R2 1.1744
Daily Pivot Point R3 1.177

 

 

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