EUR/USD Price Analysis: Further downside seen below the 55-day SMA

EUR/USD is extending the correction lower from tops near 1.1100.
While below the 55-day SMA, the outlook on the pair remains negative.

Pablo Piovano FXStreet

EUR/USD broke below the 100-day SMA and the short-term support line in the 1.1070 region following Friday’s failed attempt to surpass the 55-day SMA near 1.1090.

Above this area, the downside pressure should alleviate and allow for a move to the more relevant 200-day SMA, today at 1.1125.

If sellers keep ruling the market, then the 1.1000/1.0990 region should return to the investors’ radar.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1044
Today Daily Change	21
Today Daily Change %	-0.13
Today daily open	1.1058

Trends
Daily SMA20	1.1086
Daily SMA50	1.1101
Daily SMA100	1.1072
Daily SMA200	1.1127

Levels
Previous Daily High	1.1095
Previous Daily Low	1.1036
Previous Weekly High	1.1092
Previous Weekly Low	1.0992
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.1059
Daily Fibonacci 61.8%	1.1072
Daily Pivot Point S1	1.1031
Daily Pivot Point S2	1.1004
Daily Pivot Point S3	1.0972
Daily Pivot Point R1	1.109
Daily Pivot Point R2	1.1122
Daily Pivot Point R3	1.1149

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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