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EUR/USD Price Analysis: Losses could accelerate below 1.0655

  • EUR/USD gives away part of the recent 2-session gains on Wednesday.
  • Further downside lies ahead once the monthly low is breached.

EUR/USD could not sustain Tuesday’s bull run to levels just beyond the 1.0800 barrier, sparking a corrective decline soon afterwards.

If the selling pressure gathers extra impulse, the pair could dispute the February low at 1.0655 (February 13) in the near term. Against that, the breach of this level could expose further weakness to the next support of note at the YTD low at 1.0481 (January 6).

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0324.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.0711
Today Daily Change45
Today Daily Change %-0.25
Today daily open1.0738
 
Trends
Daily SMA201.0818
Daily SMA501.0716
Daily SMA1001.0385
Daily SMA2001.0325
 
Levels
Previous Daily High1.0805
Previous Daily Low1.0707
Previous Weekly High1.0799
Previous Weekly Low1.0666
Previous Monthly High1.093
Previous Monthly Low1.0483
Daily Fibonacci 38.2%1.0767
Daily Fibonacci 61.8%1.0744
Daily Pivot Point S11.0695
Daily Pivot Point S21.0652
Daily Pivot Point S31.0597
Daily Pivot Point R11.0793
Daily Pivot Point R21.0848
Daily Pivot Point R31.0891

Author

Pablo Piovano

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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