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.

Pablo Piovano FXStreet

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 price	1.0711
Today Daily Change	45
Today Daily Change %	-0.25
Today daily open	1.0738

Trends
Daily SMA20	1.0818
Daily SMA50	1.0716
Daily SMA100	1.0385
Daily SMA200	1.0325

Levels
Previous Daily High	1.0805
Previous Daily Low	1.0707
Previous Weekly High	1.0799
Previous Weekly Low	1.0666
Previous Monthly High	1.093
Previous Monthly Low	1.0483
Daily Fibonacci 38.2%	1.0767
Daily Fibonacci 61.8%	1.0744
Daily Pivot Point S1	1.0695
Daily Pivot Point S2	1.0652
Daily Pivot Point S3	1.0597
Daily Pivot Point R1	1.0793
Daily Pivot Point R2	1.0848
Daily Pivot Point R3	1.0891

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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