EUR/USD Price Analysis: Scope for a visit to the 2017 low at 1.0340

EUR/USD collapses to fresh lows in the sub-1.0400 area.
The door is now open to a visit to the 2017 low at 1.0340.

Pablo Piovano FXStreet

EUR/USD saw its decline markedly accelerated on Thursday, breaking below the 1.0400 support for the first time since early January 2017.

Extra retracements remain well on the cards for the time being. That said, bets are now on the rise for a test of the 2017 low at 1.0340 sooner rather than later. This area is reinforced by the 2003 low at 1.0334 (January 2).

Below the 3-month line near 1.0910, the pair is expected to remain under pressure and vulnerable to extra losses.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0422
Today Daily Change	141
Today Daily Change %	-0.87
Today daily open	1.0513

Trends
Daily SMA20	1.0649
Daily SMA50	1.0846
Daily SMA100	1.1084
Daily SMA200	1.1329

Levels
Previous Daily High	1.0577
Previous Daily Low	1.0502
Previous Weekly High	1.0642
Previous Weekly Low	1.0483
Previous Monthly High	1.1076
Previous Monthly Low	1.0471
Daily Fibonacci 38.2%	1.0531
Daily Fibonacci 61.8%	1.0548
Daily Pivot Point S1	1.0484
Daily Pivot Point S2	1.0455
Daily Pivot Point S3	1.0409
Daily Pivot Point R1	1.056
Daily Pivot Point R2	1.0606
Daily Pivot Point R3	1.0635

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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