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EUR/USD Price Analysis: Further south emerges the March low at 1.0516

  • EUR/USD slips back to the 1.0615 region, reaching new six-month lows.
  • Extra losses should meet the March low of around 1.0516.

EUR/USD retreats for the third session in a row and prints fresh lows around 1.0615 on Thursday.

If the pair breaches this level in the short-term horizon, it could then open the door to a potential retracement to the March low of 1.0516 (Mar 8), which is the last defence ahead of an assault on the 2023 low at 1.0481 (January 6).

While below the key 200-day SMA at 1.0828, the pair is likely to face extra weakness.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0646
Today Daily Change48
Today Daily Change %-0.13
Today daily open1.066
 
Trends
Daily SMA201.0753
Daily SMA501.0908
Daily SMA1001.0885
Daily SMA2001.0829
 
Levels
Previous Daily High1.0737
Previous Daily Low1.065
Previous Weekly High1.0769
Previous Weekly Low1.0632
Previous Monthly High1.1065
Previous Monthly Low1.0766
Daily Fibonacci 38.2%1.0683
Daily Fibonacci 61.8%1.0704
Daily Pivot Point S11.0628
Daily Pivot Point S21.0596
Daily Pivot Point S31.0541
Daily Pivot Point R11.0715
Daily Pivot Point R21.0769
Daily Pivot Point R31.0802

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.

More from Pablo Piovano
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