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

EUR/USD loses the grip further and clinches new monthly lows.
Further downside faces the next support near 1.1660.

Pablo Piovano FXStreet

EUR/USD loses ground for the third consecutive session so far on Tuesday and records fresh September lows near 1.1670.

Extra losses appear likely in the short-term horizon, with the immediate target at the 2021 low at 1.1663 (August 20). 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 1.1972.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1682
Today Daily Change	31
Today Daily Change %	-0.12
Today daily open	1.1696

Trends
Daily SMA20	1.179
Daily SMA50	1.1784
Daily SMA100	1.1905
Daily SMA200	1.1977

Levels
Previous Daily High	1.1727
Previous Daily Low	1.1685
Previous Weekly High	1.1756
Previous Weekly Low	1.1684
Previous Monthly High	1.19
Previous Monthly Low	1.1664
Daily Fibonacci 38.2%	1.1701
Daily Fibonacci 61.8%	1.1711
Daily Pivot Point S1	1.1678
Daily Pivot Point S2	1.1661
Daily Pivot Point S3	1.1636
Daily Pivot Point R1	1.172
Daily Pivot Point R2	1.1744
Daily Pivot Point R3	1.1762

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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