EUR/USD Price Analysis: Further decline stays well on the cards

EUR/USD resumes the downside and flirts with 1.1630.
The next key support of note lies in the 1.1500 neighbourhood.

Pablo Piovano FXStreet

Sellers have regained the upper hand around EUR/USD following Thursday’s small uptick and drag the pair back to the area of 2-month lows around 1.1630 on Friday.

While odds for further pullbacks remain well in the pipeline, a deeper move to the next support of relevance in the 1.1500 region (March tops) is not favoured for the time being. On the opposite side, the previous key contention area in the 1.1700 neighbourhood has now become the next upside target.

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1234.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1644
Today Daily Change	54
Today Daily Change %	-0.24
Today daily open	1.1672

Trends
Daily SMA20	1.1819
Daily SMA50	1.1782
Daily SMA100	1.1472
Daily SMA200	1.1234

Levels
Previous Daily High	1.1687
Previous Daily Low	1.1627
Previous Weekly High	1.1901
Previous Weekly Low	1.1738
Previous Monthly High	1.1966
Previous Monthly Low	1.1696
Daily Fibonacci 38.2%	1.1664
Daily Fibonacci 61.8%	1.165
Daily Pivot Point S1	1.1636
Daily Pivot Point S2	1.1602
Daily Pivot Point S3	1.1576
Daily Pivot Point R1	1.1697
Daily Pivot Point R2	1.1722
Daily Pivot Point R3	1.1757

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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