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.

Pablo Piovano FXStreet

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 price	1.1394
Today Daily Change	60
Today Daily Change %	-0.33
Today daily open	1.1432

Trends
Daily SMA20	1.1335
Daily SMA50	1.1326
Daily SMA100	1.1417
Daily SMA200	1.1665

Levels
Previous Daily High	1.1495
Previous Daily Low	1.1375
Previous Weekly High	1.1484
Previous Weekly Low	1.1138
Previous Monthly High	1.1483
Previous Monthly Low	1.1121
Daily Fibonacci 38.2%	1.1449
Daily Fibonacci 61.8%	1.1421
Daily Pivot Point S1	1.1373
Daily Pivot Point S2	1.1314
Daily Pivot Point S3	1.1252
Daily Pivot Point R1	1.1493
Daily Pivot Point R2	1.1554
Daily Pivot Point R3	1.1613

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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