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EUR/USD Price Analysis: Further weakness could revisit 1.0500

- EUR/USD accelerates its losses to weekly lows near 1.0660.

- The next support of note emerges at 1.0650 ahead of 1.0500.

EUR/USD retreats further and approaches the transitory 55-day SMA near 1.0650 on Wednesday.

In case the downward bias picks up extra pace, the next relevant contention is expected to emerge around the 1.0500 neighbourhood in the short-term horizon.

In the meantime, while below the 200-day SMA at 1.0802, the pair’s outlook should remain negative.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0669
Today Daily Change40
Today Daily Change %-0.24
Today daily open1.0695
 
Trends
Daily SMA201.06
Daily SMA501.0632
Daily SMA1001.0803
Daily SMA2001.0806
 
Levels
Previous Daily High1.0724
Previous Daily Low1.0664
Previous Weekly High1.0747
Previous Weekly Low1.0517
Previous Monthly High1.0695
Previous Monthly Low1.0448
Daily Fibonacci 38.2%1.0687
Daily Fibonacci 61.8%1.0701
Daily Pivot Point S11.0665
Daily Pivot Point S21.0635
Daily Pivot Point S31.0606
Daily Pivot Point R11.0724
Daily Pivot Point R21.0753
Daily Pivot Point R31.0783

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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