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.

Pablo Piovano FXStreet

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 price	1.0715
Today Daily Change	34
Today Daily Change %	-0.09
Today daily open	1.0725

Trends
Daily SMA20	1.0886
Daily SMA50	1.0904
Daily SMA100	1.0816
Daily SMA200	1.0483

Levels
Previous Daily High	1.0759
Previous Daily Low	1.0702
Previous Weekly High	1.0831
Previous Weekly Low	1.0702
Previous Monthly High	1.1095
Previous Monthly Low	1.0788
Daily Fibonacci 38.2%	1.0724
Daily Fibonacci 61.8%	1.0737
Daily Pivot Point S1	1.0698
Daily Pivot Point S2	1.0671
Daily Pivot Point S3	1.0641
Daily Pivot Point R1	1.0755
Daily Pivot Point R2	1.0785
Daily Pivot Point R3	1.0812

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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