EUR/USD Price Analysis: Further losses likely below 1.1880

EUR/USD fades the earlier move to 1.1850.
Sentiment remains sour while below July tops around 1.1880.

Pablo Piovano FXStreet

EUR/USD rebounds to the mid-1.1800s before running out of steam and return to the negative territory.

While the upside remains capped by the 1.1880/90 band, further pullbacks remain in the pipeline.

Against this, the breach of the 2020-2021 support line would be an important bearish event and carries the potential to accelerate losses to, initially, the Fibo level near 1.1760 ahead of the 2021 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 1.2002.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1815
Today Daily Change	40
Today Daily Change %	-0.18
Today daily open	1.1836

Trends
Daily SMA20	1.1875
Daily SMA50	1.2043
Daily SMA100	1.1997
Daily SMA200	1.2006

Levels
Previous Daily High	1.1839
Previous Daily Low	1.1772
Previous Weekly High	1.1895
Previous Weekly Low	1.1782
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.1813
Daily Fibonacci 61.8%	1.1797
Daily Pivot Point S1	1.1793
Daily Pivot Point S2	1.1749
Daily Pivot Point S3	1.1726
Daily Pivot Point R1	1.1859
Daily Pivot Point R2	1.1882
Daily Pivot Point R3	1.1926

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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