EUR/USD Price Analysis: Extra losses seen below 1.2000

EUR/USD trades on the defensive near the 1.20 level.
Further downside targets the 200-day SMA (1.1939).

Pablo Piovano FXStreet

EUR/USD quickly reversed Monday’s uptick and re-shifts the attention to the downside, particularly to the key 1.2000 neighbourhood.

The continuation of the leg lower is seen meeting the initial support at the Fibo level (of the November-January rally) at 1.1976. Further south comes in the more relevant 200-day SMA at 1.1939.

Below the 200-day SMA (1.1937) the stance for EUR/USD is seen shifting to negative.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.2012
Today Daily Change	65
Today Daily Change %	-0.44
Today daily open	1.2065

Trends
Daily SMA20	1.2004
Daily SMA50	1.1954
Daily SMA100	1.2054
Daily SMA200	1.1944

Levels
Previous Daily High	1.2076
Previous Daily Low	1.2013
Previous Weekly High	1.215
Previous Weekly Low	1.2017
Previous Monthly High	1.215
Previous Monthly Low	1.1713
Daily Fibonacci 38.2%	1.2052
Daily Fibonacci 61.8%	1.2037
Daily Pivot Point S1	1.2027
Daily Pivot Point S2	1.1988
Daily Pivot Point S3	1.1964
Daily Pivot Point R1	1.209
Daily Pivot Point R2	1.2114
Daily Pivot Point R3	1.2153

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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