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EUR/USD Price Analysis: Extra losses could revisit 1.0635

  • EUR/USD intensify its decline to fresh four-month lows.
  • Bears now re-shift their attention to the 1.0630 zone.

EUR/USD sinks to levels last traded four months ago in the mid-1.0600s on Thursday.

The underlying bearish sentiment remains unchanged and leaves the door open to extra pullbacks in the short-term horizon. Against that backdrop, a sustained breach of the 1.0700 yardstick could encourage sellers to embark on a probable visit to the May low of 1.0635 (May 31).

In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0827.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0668
Today Daily Change98
Today Daily Change %-0.57
Today daily open1.0729
 
Trends
Daily SMA201.0804
Daily SMA501.0941
Daily SMA1001.0902
Daily SMA2001.0827
 
Levels
Previous Daily High1.0765
Previous Daily Low1.0711
Previous Weekly High1.0809
Previous Weekly Low1.0686
Previous Monthly High1.1065
Previous Monthly Low1.0766
Daily Fibonacci 38.2%1.0732
Daily Fibonacci 61.8%1.0744
Daily Pivot Point S11.0705
Daily Pivot Point S21.0681
Daily Pivot Point S31.0652
Daily Pivot Point R11.0759
Daily Pivot Point R21.0789
Daily Pivot Point R31.0813

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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