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EUR/USD Price Analysis: Further losses seen below 1.1400

  • EUR/USD adds to Monday’s weakness and retreats to 1.1400.
  • The 5-month support line emerges around 1.1400.

EUR/USD accelerates the weekly leg lower and puts the 1.1400 yardstick to the test on Tuesday.

If the pair break below the 5-month line around the 1.1400 zone it could allow for the selling pressure to pick up pace and attempt a move to the temporary contention at the 55-day SMA at 1.1315. The breach of the latter exposes another visit to the 2022 low near 1.1120 (January 28).

While above this 5-month line, further upside in the pair remains likely in the near term at least. In the longer run, the negative outlook remains in place while below the key 200-day SMA at 1.1670.

EUR/USD

Overview
Today last price1.1408
Today Daily Change52
Today Daily Change %-0.26
Today daily open1.1438
 
Trends
Daily SMA201.1334
Daily SMA501.1319
Daily SMA1001.1426
Daily SMA2001.1674
 
Levels
Previous Daily High1.1466
Previous Daily Low1.1415
Previous Weekly High1.1484
Previous Weekly Low1.1138
Previous Monthly High1.1483
Previous Monthly Low1.1121
Daily Fibonacci 38.2%1.1435
Daily Fibonacci 61.8%1.1447
Daily Pivot Point S11.1414
Daily Pivot Point S21.1389
Daily Pivot Point S31.1363
Daily Pivot Point R11.1464
Daily Pivot Point R21.149
Daily Pivot Point R31.1515

Author

Pablo Piovano

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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