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EUR/USD Price Analysis: Extra pullbacks not ruled out

  • EUR/USD remains under pressure and close to 1.0700.
  • The breach of 1.0700 could pave the way for a sustained drop.

EUR/USD keeps the bearish note well in place and keeps the trade near the key 1.0700 zone on Monday.

The ongoing bearish development could force the pair to break below the 1.0700 region and thus expose a deeper pullback to, initially, the March low of 1.0516 (March 15) in the near term.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0485.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0715
Today Daily Change34
Today Daily Change %-0.09
Today daily open1.0725
 
Trends
Daily SMA201.0886
Daily SMA501.0904
Daily SMA1001.0816
Daily SMA2001.0483
 
Levels
Previous Daily High1.0759
Previous Daily Low1.0702
Previous Weekly High1.0831
Previous Weekly Low1.0702
Previous Monthly High1.1095
Previous Monthly Low1.0788
Daily Fibonacci 38.2%1.0724
Daily Fibonacci 61.8%1.0737
Daily Pivot Point S11.0698
Daily Pivot Point S21.0671
Daily Pivot Point S31.0641
Daily Pivot Point R11.0755
Daily Pivot Point R21.0785
Daily Pivot Point R31.0812

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.

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