EUR/USD Price Analysis: Further weakness points to a visit to 1.0814

EUR/USD drops further and printed new 2020 lows near 1.0820.
Immediately below aligns the Fibo retracement at 1.0814.

Pablo Piovano FXStreet

EUR/USD remains entrenched into the negative territory and there are no signs of a recovery, at least in the short-term horizon.

That said, extreme “oversold” conditions as well as bouts of risk appetite could impulse the pair to test the 10-day SMA in the 1.0900 neighbourhood, although these could also be seen as selling opportunities.

Against this backdrop, the next target on the downside emerges at the Fibo retracement (of the 2017-2018 rally) at 1.0814.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0834
Today Daily Change	16
Today Daily Change %	0.00
Today daily open	1.0834

Trends
Daily SMA20	1.0984
Daily SMA50	1.1075
Daily SMA100	1.1065
Daily SMA200	1.1113

Levels
Previous Daily High	1.0851
Previous Daily Low	1.0829
Previous Weekly High	1.0958
Previous Weekly Low	1.0827
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.0843
Daily Fibonacci 61.8%	1.0838
Daily Pivot Point S1	1.0825
Daily Pivot Point S2	1.0816
Daily Pivot Point S3	1.0803
Daily Pivot Point R1	1.0847
Daily Pivot Point R2	1.086
Daily Pivot Point R3	1.0869

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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