EUR/USD Price Analysis: Extra losses seen below 1.1370

EUR/USD sheds ground for the third session in a row on Tuesday.
Key contention emerges at the 4-month line near 1.1370.

Pablo Piovano FXStreet

EUR/USD extends the bearish move sparked soon after hitting new 2022 highs in the 1.1480/85 band earlier in the month.

The bias appears tilted to the downside for the time being. That said, a deeper decline remains on the cards if spot breaches the 4-month support line, today around 1.1370. On such an event, the next support should emerge at the temporary 55-day SMA at 1.1347.

The longer term negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1725.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.139
Today Daily Change	38
Today Daily Change %	-0.15
Today daily open	1.1407

Trends
Daily SMA20	1.1346
Daily SMA50	1.133
Daily SMA100	1.1502
Daily SMA200	1.1729

Levels
Previous Daily High	1.1434
Previous Daily Low	1.1392
Previous Weekly High	1.1483
Previous Weekly Low	1.1285
Previous Monthly High	1.1386
Previous Monthly Low	1.1222
Daily Fibonacci 38.2%	1.1408
Daily Fibonacci 61.8%	1.1418
Daily Pivot Point S1	1.1388
Daily Pivot Point S2	1.1368
Daily Pivot Point S3	1.1345
Daily Pivot Point R1	1.143
Daily Pivot Point R2	1.1454
Daily Pivot Point R3	1.1473

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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