EUR/USD Price Analysis: Further weakness lies below 1.1900

EUR/USD plummets well south of the 1.20 mark.
The Fibo level around 1.1887 comes up next on the way down.

Pablo Piovano FXStreet

EUR/USD rapidly loses momentum and extends the drop to multi-week lows in the 1.1930/25 band on Thursday.

The loss of the 200-day SMA (1.1991) does not bode well for spot and allows for a deeper pullback to, initially, the Fibo level (of the November-January rally) at 1.1887. If the selling impulse picks up pace, then the next support emerges at 1.1835 (March 9 low).

On the broader view, further decline in EUR/USD is predicted while below the 200-day SMA, today at 1.1991.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.193
Today Daily Change	-0.0064
Today Daily Change %	80
Today daily open	1.1994

Trends
Daily SMA20	1.2173
Daily SMA50	1.2098
Daily SMA100	1.204
Daily SMA200	1.1995

Levels
Previous Daily High	1.2135
Previous Daily Low	1.1994
Previous Weekly High	1.2218
Previous Weekly Low	1.2093
Previous Monthly High	1.2266
Previous Monthly Low	1.1986
Daily Fibonacci 38.2%	1.2048
Daily Fibonacci 61.8%	1.2081
Daily Pivot Point S1	1.1948
Daily Pivot Point S2	1.1901
Daily Pivot Point S3	1.1807
Daily Pivot Point R1	1.2088
Daily Pivot Point R2	1.2182
Daily Pivot Point R3	1.2229

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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