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EUR/USD Price Analysis: Extra losses seen below 1.1390

  • EUR/USD comes under pressure after recent tops near 1.1500.
  • The 5-month support line holds the downside around 1.1390.

EUR/USD reverses the recent strength and dropped to fresh lows around 1.1370, managing to rebound afterwards.

In the meantime, further gains in the pair remains on the table while above the 5-month line in the 1.1390 area. Above this zone, EUR/USD should be able to attempt another visit to the 2022 high at 1.1494 (February 4) just ahead of the 200-week SMA at 1.1496. Between 1.1500 and 1.1600 there are no resistance levels of note, leaving the October 2021 top at 1.1692 as a potential longer-term target.

In the longer run, the negative outlook remains in place while below the key 200-day SMA at 1.1660.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.1394
Today Daily Change60
Today Daily Change %-0.33
Today daily open1.1432
 
Trends
Daily SMA201.1335
Daily SMA501.1326
Daily SMA1001.1417
Daily SMA2001.1665
 
Levels
Previous Daily High1.1495
Previous Daily Low1.1375
Previous Weekly High1.1484
Previous Weekly Low1.1138
Previous Monthly High1.1483
Previous Monthly Low1.1121
Daily Fibonacci 38.2%1.1449
Daily Fibonacci 61.8%1.1421
Daily Pivot Point S11.1373
Daily Pivot Point S21.1314
Daily Pivot Point S31.1252
Daily Pivot Point R11.1493
Daily Pivot Point R21.1554
Daily Pivot Point R31.1613

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.

More from Pablo Piovano
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