EUR/USD Price Analysis: Rising bets for a move to 1.1700

EUR/USD adds to Friday’s losses and drops to the low-1.17s.
Further weakness now targets the 1.17 neighbourhood near-term.

Pablo Piovano FXStreet

EUR/USD closed Friday’s session within the negative territory as the move to fresh +2-year tops beyond 1.19 the figure lacked follow-through.

The pair looks offered as it comes from overbought levels and the door is now open for a deeper retracement to, initially, the Fibo level (of the 2017-2018 rally) at 1.1709. Further south, the next support of relevance aligns near 1.15 (January peaks).

Looking at the broader picture, as long as the 200-day SMA, today at 1.1089, holds the downside, further gains in EUR/USD remain well on the table.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.172
Today Daily Change	82
Today Daily Change %	-0.49
Today daily open	1.1778

Trends
Daily SMA20	1.1507
Daily SMA50	1.1332
Daily SMA100	1.1109
Daily SMA200	1.1089

Levels
Previous Daily High	1.1909
Previous Daily Low	1.1762
Previous Weekly High	1.1909
Previous Weekly Low	1.1642
Previous Monthly High	1.1909
Previous Monthly Low	1.1185
Daily Fibonacci 38.2%	1.1818
Daily Fibonacci 61.8%	1.1853
Daily Pivot Point S1	1.1723
Daily Pivot Point S2	1.1669
Daily Pivot Point S3	1.1576
Daily Pivot Point R1	1.187
Daily Pivot Point R2	1.1963
Daily Pivot Point R3	1.2017

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

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