EUR/USD Price Analysis: Next support of note comes at 1.1000

EUR/USD keeps correcting lower and revisits the 1.1170 zone.
Further south emerges the next contention area at 1.1000.

Pablo Piovano FXStreet

EUR/USD leaves behind earlier gains and returns to the area of weekly lows near 1.1170 on Thursday.

While the continuation of the upside momentum appears favoured in the very near term, the ongoing corrective decline carries the potential to drag the pair to the 1.1000 neighbourhood, where a more solid contention is expected to emerge.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0680.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.118
Today Daily Change	58
Today Daily Change %	-0.19
Today daily open	1.1201

Trends
Daily SMA20	1.1008
Daily SMA50	1.0884
Daily SMA100	1.0872
Daily SMA200	1.0675

Levels
Previous Daily High	1.124
Previous Daily Low	1.1174
Previous Weekly High	1.1245
Previous Weekly Low	1.0944
Previous Monthly High	1.1012
Previous Monthly Low	1.0662
Daily Fibonacci 38.2%	1.1199
Daily Fibonacci 61.8%	1.1215
Daily Pivot Point S1	1.117
Daily Pivot Point S2	1.1139
Daily Pivot Point S3	1.1104
Daily Pivot Point R1	1.1236
Daily Pivot Point R2	1.1271
Daily Pivot Point R3	1.1302

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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