EUR/USD Price Analysis: Scope for extra losses

EUR/USD remains under pressure around 1.1800.
There is an interim support around 1.1760 (Fibo level).

Pablo Piovano FXStreet

EUR/USD accelerates the downside following the rejection from the mid-1.1800s on Thursday.

While the upside remains capped by the 1.1880 area, further pullbacks remain in the pipeline.

Against this, the breach of the 2020-2021 support line would be an important bearish event and carries the potential to accelerate losses to, initially, the Fibo level near 1.1760 ahead of 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 price	1.1802
Today Daily Change	25
Today Daily Change %	-0.09
Today daily open	1.1813

Trends
Daily SMA20	1.187
Daily SMA50	1.2039
Daily SMA100	1.1993
Daily SMA200	1.2006

Levels
Previous Daily High	1.1851
Previous Daily Low	1.1796
Previous Weekly High	1.1895
Previous Weekly Low	1.1782
Previous Monthly High	1.2254
Previous Monthly Low	1.1845
Daily Fibonacci 38.2%	1.1817
Daily Fibonacci 61.8%	1.183
Daily Pivot Point S1	1.1789
Daily Pivot Point S2	1.1766
Daily Pivot Point S3	1.1735
Daily Pivot Point R1	1.1844
Daily Pivot Point R2	1.1874
Daily Pivot Point R3	1.1898

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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