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EUR/USD Price Analysis: Risks point to further losses

  • EUR/USD trades close to recent 3-month lows near1.1760.
  • Extra downside could see the 1.17 neighbourhood retested.

EUR/USD extends the bearish note and remains well offered in sub-1.1800 levels on Tuesday.

So far, spot seems to have met decent contention in the 1.1770/65 band, where sits the 2020-2021 support line, recent lows and a Fibo level. The breach of this zone would be an important bearish event and carries the potential to accelerate losses to the 2021 low in the 1.1700 neighbourhood (March 31).

Further out, the near-term outlook for EUR/USD is seen on the negative side while below the key 200-day SMA, today at 1.2002.

EUR/USD daily chart

EUR/USD

Overview
Today last price1.1784
Today Daily Change30
Today Daily Change %-0.14
Today daily open1.1801
 
Trends
Daily SMA201.1861
Daily SMA501.2027
Daily SMA1001.1987
Daily SMA2001.2006
 
Levels
Previous Daily High1.1824
Previous Daily Low1.1764
Previous Weekly High1.188
Previous Weekly Low1.1772
Previous Monthly High1.2254
Previous Monthly Low1.1845
Daily Fibonacci 38.2%1.1787
Daily Fibonacci 61.8%1.1801
Daily Pivot Point S11.1768
Daily Pivot Point S21.1735
Daily Pivot Point S31.1707
Daily Pivot Point R11.1829
Daily Pivot Point R21.1857
Daily Pivot Point R31.189

Author

Pablo Piovano

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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