EUR/USD Price Analysis: Next on the downside comes 1.0340

EUR/USD fails to extend the move beyond 1.0400.
The door is now open to a visit to the 2017 low at 1.0340.

Pablo Piovano FXStreet

EUR/USD’s daily bullish attempt ran out of steam near 1.0420 on Friday.

Extra retracements remain well on the cards for the time being. That said, bets are now on the rise for a test of the 2017 low at 1.0340 sooner rather than later. This area is reinforced by the 2003 low at 1.0334 (January 2).

Below the 3-month line around 1.0900, EUR/USD is expected to remain under pressure and vulnerable to extra losses.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0378
Today Daily Change	53
Today Daily Change %	-0.02
Today daily open	1.038

Trends
Daily SMA20	1.0627
Daily SMA50	1.0832
Daily SMA100	1.1074
Daily SMA200	1.1322

Levels
Previous Daily High	1.053
Previous Daily Low	1.0354
Previous Weekly High	1.0642
Previous Weekly Low	1.0483
Previous Monthly High	1.1076
Previous Monthly Low	1.0471
Daily Fibonacci 38.2%	1.0421
Daily Fibonacci 61.8%	1.0462
Daily Pivot Point S1	1.0313
Daily Pivot Point S2	1.0246
Daily Pivot Point S3	1.0137
Daily Pivot Point R1	1.0488
Daily Pivot Point R2	1.0597
Daily Pivot Point R3	1.0664

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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