EUR/USD Price Analysis: Still room for extra pullbacks

EUR/USD manages to bounce off recent lows near 1.0700.
The next contention appears at the 1.0630 zone.

Pablo Piovano FXStreet

EUR/USD recoups part of the ground lost on Tuesday’s sell-off and reclaims the 1.0740 area on Wednesday.

Despite the ongoing rebound, the pair remains well under pressure and the door remains open to extra losses in the short-term horizon. Against that, the loss of the 1.0700 support is expected to motivate the pair to challenge the May low of 1.0635 (May 31) in the not-so-distant future.

In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0820.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0731
Today Daily Change	36
Today Daily Change %	0.08
Today daily open	1.0722

Trends
Daily SMA20	1.0865
Daily SMA50	1.0961
Daily SMA100	1.0918
Daily SMA200	1.082

Levels
Previous Daily High	1.0798
Previous Daily Low	1.0706
Previous Weekly High	1.0946
Previous Weekly Low	1.0772
Previous Monthly High	1.1065
Previous Monthly Low	1.0766
Daily Fibonacci 38.2%	1.0742
Daily Fibonacci 61.8%	1.0763
Daily Pivot Point S1	1.0686
Daily Pivot Point S2	1.065
Daily Pivot Point S3	1.0594
Daily Pivot Point R1	1.0778
Daily Pivot Point R2	1.0834
Daily Pivot Point R3	1.087

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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