EUR/USD Price Analysis: Rising bets for a move to 2021 lows

EUR/USD remains on the downside at/below 1.1700.
Further downside faces the next support near 1.1660.

Pablo Piovano FXStreet

EUR/USD starts the week on the defensive and challenges the monthly lows near 1.1680.

Extra losses appear likely in the short-term horizon, with the immediate target at the 2021 low at 1.1663 (August 20) on a breach of 1.1683. A deeper pullback should expose the September 2020 low at 1.1612 followed by the November 2020 low in the 1.1600 neighbourhood.

In the meantime, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.1975.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1707
Today Daily Change	42
Today Daily Change %	-0.11
Today daily open	1.172

Trends
Daily SMA20	1.1795
Daily SMA50	1.1786
Daily SMA100	1.191
Daily SMA200	1.198

Levels
Previous Daily High	1.1748
Previous Daily Low	1.1701
Previous Weekly High	1.1756
Previous Weekly Low	1.1684
Previous Monthly High	1.19
Previous Monthly Low	1.1664
Daily Fibonacci 38.2%	1.1719
Daily Fibonacci 61.8%	1.173
Daily Pivot Point S1	1.1698
Daily Pivot Point S2	1.1676
Daily Pivot Point S3	1.1651
Daily Pivot Point R1	1.1745
Daily Pivot Point R2	1.177
Daily Pivot Point R3	1.1792

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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