EUR/USD Price Analysis: Further downside likely below 1.1830

EUR/USD reverses Monday’s uptick, back below 1.1800.
Further retracement could reach monthly lows near 1.1750.

Pablo Piovano FXStreet

EUR/USD failed once again to surpass the key barrier in the 1.1800 neighbourhood, coming under renewed downside pressure afterwards.

Spot, in the meantime, flirts with the 2020-2021 line in the 1.1790/85 band. A sustainable break below this zone would be an important bearish event and carries the potential to accelerate losses.

Initial support comes in at the Fibo level at 1.1764 followed by monthly lows around 1.1750 and then the YTD low in the 1.1700 neighbourhood (March 31).

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2003.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1778
Today Daily Change	42
Today Daily Change %	-0.22
Today daily open	1.1804

Trends
Daily SMA20	1.1824
Daily SMA50	1.1993
Daily SMA100	1.1976
Daily SMA200	1.2007

Levels
Previous Daily High	1.1817
Previous Daily Low	1.1764
Previous Weekly High	1.183
Previous Weekly Low	1.1752
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.1797
Daily Fibonacci 61.8%	1.1784
Daily Pivot Point S1	1.1772
Daily Pivot Point S2	1.1741
Daily Pivot Point S3	1.1718
Daily Pivot Point R1	1.1826
Daily Pivot Point R2	1.1849
Daily Pivot Point R3	1.188

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.

EUR/USD trims gains, back below 1.1800

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