EUR/USD Price Analysis: Further down comes the 1.0770 region

EUR/USD sinks to fresh lows in sub-1.0900 levels.
The 1.0770 zone emerges as the next contention area.

Pablo Piovano FXStreet

EUR/USD collapses to as low as the vicinity of 1.0880 on the back of the intense rally in the greenback at the end of the week.

In light of the ongoing price action, there is a palpable risk for a deeper decline sooner rather than later. That said, if spot breaches the so far 2022 low at 1.0885 (March 4) then there are no support levels of significance until the 1.0770 region, where the May 2020 low is located (May 7, 14).

The negative outlook for EUR/USD is expected to remain unchanged while below the key 200-day SMA, today at 1.1590.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0915
Today Daily Change	182
Today Daily Change %	-1.34
Today daily open	1.1063

Trends
Daily SMA20	1.1309
Daily SMA50	1.1317
Daily SMA100	1.1367
Daily SMA200	1.1598

Levels
Previous Daily High	1.1129
Previous Daily Low	1.1034
Previous Weekly High	1.1391
Previous Weekly Low	1.1106
Previous Monthly High	1.1495
Previous Monthly Low	1.1106
Daily Fibonacci 38.2%	1.107
Daily Fibonacci 61.8%	1.1093
Daily Pivot Point S1	1.1021
Daily Pivot Point S2	1.098
Daily Pivot Point S3	1.0926
Daily Pivot Point R1	1.1117
Daily Pivot Point R2	1.1171
Daily Pivot Point R3	1.1213

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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