EUR/USD Price Analysis: Further weakness could revisit 1.0500

Pablo Piovano FXStreet

- 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 price	1.0669
Today Daily Change	40
Today Daily Change %	-0.24
Today daily open	1.0695

Trends
Daily SMA20	1.06
Daily SMA50	1.0632
Daily SMA100	1.0803
Daily SMA200	1.0806

Levels
Previous Daily High	1.0724
Previous Daily Low	1.0664
Previous Weekly High	1.0747
Previous Weekly Low	1.0517
Previous Monthly High	1.0695
Previous Monthly Low	1.0448
Daily Fibonacci 38.2%	1.0687
Daily Fibonacci 61.8%	1.0701
Daily Pivot Point S1	1.0665
Daily Pivot Point S2	1.0635
Daily Pivot Point S3	1.0606
Daily Pivot Point R1	1.0724
Daily Pivot Point R2	1.0753
Daily Pivot Point R3	1.0783

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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