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.

Pablo Piovano FXStreet

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 price	1.0646
Today Daily Change	48
Today Daily Change %	-0.13
Today daily open	1.066

Trends
Daily SMA20	1.0753
Daily SMA50	1.0908
Daily SMA100	1.0885
Daily SMA200	1.0829

Levels
Previous Daily High	1.0737
Previous Daily Low	1.065
Previous Weekly High	1.0769
Previous Weekly Low	1.0632
Previous Monthly High	1.1065
Previous Monthly Low	1.0766
Daily Fibonacci 38.2%	1.0683
Daily Fibonacci 61.8%	1.0704
Daily Pivot Point S1	1.0628
Daily Pivot Point S2	1.0596
Daily Pivot Point S3	1.0541
Daily Pivot Point R1	1.0715
Daily Pivot Point R2	1.0769
Daily Pivot Point R3	1.0802

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.

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD slips below key averages as geopolitical risks mount

GBP/USD fell about 0.35% on Tuesday, settling around 1.3350 after slipping below the 200-day Exponential Moving Average for the first time since early December. The pair has pulled back sharply from its late-January high near 1.3870, shedding over 500 pips in a series of lower highs and lower lows.

Gold moves closer to $5,150 amid sustained safe-haven flows

Gold climbs back above $5,100 during the Asian session on Wednesday, moving away from an over one-week low, touched the previous day. Sustained safe-haven flow, amid escalating geopolitical tensions in the Middle East, acts as a tailwind for the bullion. However, a bullish US Dollar and reduced bets for more aggressive easing by the US Fed might keep a lid on the non-yielding yellow metal ahead of the US ADP report and ISM Services PMI later today.