EUR/USD Price Analysis: Next on the downside comes 1.0760

EUR/USD fails to extend the breakout of 1.0800 on Tuesday.
The corrective decline could revisit monthly lows near 1.0760.

Pablo Piovano FXStreet

EUR/USD faces some downside pressure and breaches the key support of 1.0800 the figure on Tuesday.

The loss of upside traction could now force the pair to put the May low near 1.0760 to the test in the short-term horizon. Extra pullbacks could see the minor support level at 1.0712 (March 24) retested.

A deeper decline to the March bottom of 1.0516 (March 15), in the meantime, is not favoured for the time being.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0471.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.078
Today Daily Change	51
Today Daily Change %	-0.31
Today daily open	1.0813

Trends
Daily SMA20	1.0941
Daily SMA50	1.0896
Daily SMA100	1.0809
Daily SMA200	1.047

Levels
Previous Daily High	1.0831
Previous Daily Low	1.0796
Previous Weekly High	1.0904
Previous Weekly Low	1.076
Previous Monthly High	1.1095
Previous Monthly Low	1.0788
Daily Fibonacci 38.2%	1.0818
Daily Fibonacci 61.8%	1.0809
Daily Pivot Point S1	1.0795
Daily Pivot Point S2	1.0777
Daily Pivot Point S3	1.0759
Daily Pivot Point R1	1.0831
Daily Pivot Point R2	1.0849
Daily Pivot Point R3	1.0867

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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