EUR/USD Price Analysis: Further losses appears in store near term

EUR/USD breaks below the key 1.0700 support.
Next on the downside aligns the May low in the 1.0630 zone.

Pablo Piovano FXStreet

EUR/USD retreats further and breaches the key support at 1.0700 the figure on Thursday.

The underlying bearish sentiment remains unchanged and leaves the door open to extra pullbacks in the short-term horizon. Against that backdrop, the pair could now embark on a probable visit to the May low of 1.0635 (May 31) ahead of the March low of 1.0516 (March 15).

In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0821.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0699
Today Daily Change	45
Today Daily Change %	-0.26
Today daily open	1.0727

Trends
Daily SMA20	1.0853
Daily SMA50	1.0957
Daily SMA100	1.0916
Daily SMA200	1.0822

Levels
Previous Daily High	1.0749
Previous Daily Low	1.0703
Previous Weekly High	1.0946
Previous Weekly Low	1.0772
Previous Monthly High	1.1065
Previous Monthly Low	1.0766
Daily Fibonacci 38.2%	1.0731
Daily Fibonacci 61.8%	1.072
Daily Pivot Point S1	1.0704
Daily Pivot Point S2	1.068
Daily Pivot Point S3	1.0657
Daily Pivot Point R1	1.075
Daily Pivot Point R2	1.0772
Daily Pivot Point R3	1.0796

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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