EUR/USD Price Analysis: The focus shifted to the 1.0814 level

EUR/USD remains under pressure around 1.0840.
Further downside exposes the Fibo retracement at 1.0814.

Pablo Piovano FXStreet

The sell-off in EUR/USD seems to have met some (lasting?) contention in the 1.0830/25 band, or new 2020 lows recorded during early trade.

The increasing selling bias has now opened the door to a potential visit to 1.0814, the 78.6% Fibo retracement of the 2017-2018 rally.

In the meantime, while below the 55-day SMA, today ay 1.1072, further downside should remain well on the table.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0839
Today Daily Change	23
Today Daily Change %	-0.02
Today daily open	1.0841

Trends
Daily SMA20	1.101
Daily SMA50	1.1084
Daily SMA100	1.1067
Daily SMA200	1.1117

Levels
Previous Daily High	1.0889
Previous Daily Low	1.0834
Previous Weekly High	1.1089
Previous Weekly Low	1.0942
Previous Monthly High	1.1225
Previous Monthly Low	1.0992
Daily Fibonacci 38.2%	1.0855
Daily Fibonacci 61.8%	1.0868
Daily Pivot Point S1	1.0821
Daily Pivot Point S2	1.08
Daily Pivot Point S3	1.0766
Daily Pivot Point R1	1.0875
Daily Pivot Point R2	1.091
Daily Pivot Point R3	1.093

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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