EUR/USD Price Analysis: Next on the downside comes 1.0635

EUR/USD sees its decline gather pace and test the 1.0715 level.
Down from here comes the May low in the 1.0630 zone.

Pablo Piovano FXStreet

EUR/USD sets aside Monday’s decent bounce and resumes the downtrend on Tuesday.

The sharp retracement seen in the latter part of last week seems to have shifted the attention to the downside once again. Against that, the loss of the 1.0700 support is expected to motivate the pair to challenge the May low of 1.0635 (May 31) in the not-so-distant future.

In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0819.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0734
Today Daily Change	82
Today Daily Change %	-0.57
Today daily open	1.0795

Trends
Daily SMA20	1.0877
Daily SMA50	1.0966
Daily SMA100	1.0921
Daily SMA200	1.0818

Levels
Previous Daily High	1.0809
Previous Daily Low	1.0772
Previous Weekly High	1.0946
Previous Weekly Low	1.0772
Previous Monthly High	1.1065
Previous Monthly Low	1.0766
Daily Fibonacci 38.2%	1.0795
Daily Fibonacci 61.8%	1.0786
Daily Pivot Point S1	1.0775
Daily Pivot Point S2	1.0755
Daily Pivot Point S3	1.0738
Daily Pivot Point R1	1.0812
Daily Pivot Point R2	1.0829
Daily Pivot Point R3	1.0849

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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