EUR/USD Price Analysis: Further losses likely below 1.0912

EUR/USD’s downside picks up further traction on Tuesday.
A more sustained decline is expected once 1.0912 is cleared.

Pablo Piovano FXStreet

EUR/USD extends the downward bias to new weekly lows near 1.0930 on Tuesday.

In case losses accelerate, spot should face interim contention at the 55-day and 100-day SMAs at 1.0925 and 1.0923, respectively, prior to the so far August low at 1.0912 (August 3). Once the latter is breached on a convincing fashion, the pair could embark on a move to the July low of 1.0833 (July 6).

In the meantime, while below the weekly high of 1.1149 (July 27), the pair risks further retracements for the time being.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0748.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0951
Today Daily Change	77
Today Daily Change %	-0.46
Today daily open	1.1002

Trends
Daily SMA20	1.108
Daily SMA50	1.0942
Daily SMA100	1.0923
Daily SMA200	1.075

Levels
Previous Daily High	1.1018
Previous Daily Low	1.0966
Previous Weekly High	1.1046
Previous Weekly Low	1.0912
Previous Monthly High	1.1276
Previous Monthly Low	1.0834
Daily Fibonacci 38.2%	1.0986
Daily Fibonacci 61.8%	1.0998
Daily Pivot Point S1	1.0973
Daily Pivot Point S2	1.0943
Daily Pivot Point S3	1.092
Daily Pivot Point R1	1.1025
Daily Pivot Point R2	1.1048
Daily Pivot Point R3	1.1078

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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