EUR/USD Price Analysis: Further weakness remains on the cards

EUR/USD’s bounce stay so far limited around the 1.1920 area.
The mid-1.1800s emerge as the next contention zone.

Pablo Piovano FXStreet

EUR/USD gives away part of Monday’s bullish attempt to levels past the 1.1900 yardstick.

If the recovery gathers extra steam, then the door could open to a potential re-visit of the 200-day SMA at 1.1992. There is, however, a minor hurdle at a Fibo level at 1.1976. On the other hand, if sellers regain the upper hand on a convincing fashion, then there is scope for another quick visit to the 1.1850 region.

The outlook for EUR/USD should shift to negative on a sustainable breakdown of the key 200-day SMA. Next weeks are expected to be crucial regarding this issue.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1893
Today Daily Change	39
Today Daily Change %	-0.21
Today daily open	1.1918

Trends
Daily SMA20	1.2129
Daily SMA50	1.2098
Daily SMA100	1.2034
Daily SMA200	1.1996

Levels
Previous Daily High	1.1921
Previous Daily Low	1.1848
Previous Weekly High	1.2147
Previous Weekly Low	1.1847
Previous Monthly High	1.2266
Previous Monthly Low	1.1986
Daily Fibonacci 38.2%	1.1893
Daily Fibonacci 61.8%	1.1876
Daily Pivot Point S1	1.187
Daily Pivot Point S2	1.1822
Daily Pivot Point S3	1.1796
Daily Pivot Point R1	1.1944
Daily Pivot Point R2	1.1969
Daily Pivot Point R3	1.2017

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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