EUR/USD Price Analysis: Further weakness could revisit 1.0600

EUR/USD accelerates losses to the vicinity of the 1.0600 support.
A sustained loss of momentum exposes a visit to the 2023 low.

Pablo Piovano FXStreet

EUR/USD drops to multi-week lows in the 1.0610 region at the end of the week.

If the selling pressure gathers extra impulse, the pair could put the round level at 1.0600 to the test in the short term. The breach of this level could see a potential test of the YTD low at 1.0481 (January 6) emerge on the horizon.

So far, the bearish sentiment is expected to persist as long as the 3-month resistance line, today near 1.0880, caps the upside.

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0326.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0641
Today Daily Change	63
Today Daily Change %	-0.31
Today daily open	1.0674

Trends
Daily SMA20	1.0805
Daily SMA50	1.0722
Daily SMA100	1.0403
Daily SMA200	1.0327

Levels
Previous Daily High	1.0722
Previous Daily Low	1.0655
Previous Weekly High	1.0799
Previous Weekly Low	1.0666
Previous Monthly High	1.093
Previous Monthly Low	1.0483
Daily Fibonacci 38.2%	1.0681
Daily Fibonacci 61.8%	1.0697
Daily Pivot Point S1	1.0645
Daily Pivot Point S2	1.0616
Daily Pivot Point S3	1.0577
Daily Pivot Point R1	1.0712
Daily Pivot Point R2	1.0751
Daily Pivot Point R3	1.078

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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