EUR/USD Price Analysis: The 1.1700 area looms closer

EUR/USD intensifies the break below the 1.1800 support.
The next significant support lines up in the 1.1700 region.

Pablo Piovano FXStreet

EUR/USD drops to fresh 6-week lows around 1.1720 earlier on Tuesday, extending the leg lower for the third session in a row.

A deeper pullback remains on the cards and is expected to target the 1.1700 neighbourhood, where converge late August lows and a Fibo level (of the 2017-2018 rally).

Furthermore, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1226.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1761
Today Daily Change	53
Today Daily Change %	-0.08
Today daily open	1.1771

Trends
Daily SMA20	1.1842
Daily SMA50	1.1765
Daily SMA100	1.1446
Daily SMA200	1.1225

Levels
Previous Daily High	1.1872
Previous Daily Low	1.1732
Previous Weekly High	1.1901
Previous Weekly Low	1.1738
Previous Monthly High	1.1966
Previous Monthly Low	1.1696
Daily Fibonacci 38.2%	1.1785
Daily Fibonacci 61.8%	1.1818
Daily Pivot Point S1	1.1711
Daily Pivot Point S2	1.1652
Daily Pivot Point S3	1.1571
Daily Pivot Point R1	1.1851
Daily Pivot Point R2	1.1932
Daily Pivot Point R3	1.1991

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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