EUR/USD Price Analysis: Extra losses likely below the 200-day SMA

EUR/USD bounces off lows around the 1.0770 zone.
The continuation of the decline could see 1.0630 retested.

Pablo Piovano FXStreet

EUR/USD remains under pressure and wobbles round 1.0800 after bottoming out in the 1.0770/65 band, or new monthly lows, earlier on Friday.

The loss of the August low favours extra losses to, initially, the May low of 1.0635 (May 31) prior to the 2023 low of 1.0481 seen in early January.

A drop below the 200-day SMA should keep extra pullbacks in store for the time being.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0804
Today Daily Change	51
Today Daily Change %	-0.06
Today daily open	1.081

Trends
Daily SMA20	1.093
Daily SMA50	1.098
Daily SMA100	1.0929
Daily SMA200	1.0801

Levels
Previous Daily High	1.0877
Previous Daily Low	1.0805
Previous Weekly High	1.096
Previous Weekly Low	1.0845
Previous Monthly High	1.1276
Previous Monthly Low	1.0834
Daily Fibonacci 38.2%	1.0832
Daily Fibonacci 61.8%	1.0849
Daily Pivot Point S1	1.0785
Daily Pivot Point S2	1.0759
Daily Pivot Point S3	1.0713
Daily Pivot Point R1	1.0856
Daily Pivot Point R2	1.0902
Daily Pivot Point R3	1.0928

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.

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