EUR/USD Price Analysis: The loss of 1.1100 could spark a deeper drop

EUR/USD trades in weekly lows near 1.1100.
Next on the downside comes the 1.1000 key level.

Pablo Piovano FXStreet

EUR/USD remains well offered and navigates the lower end of the weekly range near the 1.1100 neighbourhood.

The recent upside bias now appears alleviated and further losses seem to be in store for the pair in the near term instead. That said, a sustained drop below the weekly low of 1.1111 could motivate the pair to dispute the psychological hurdle at 1.1000 the figure.

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0687.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1119
Today Daily Change	33
Today Daily Change %	-0.10
Today daily open	1.113

Trends
Daily SMA20	1.1017
Daily SMA50	1.0888
Daily SMA100	1.0878
Daily SMA200	1.0682

Levels
Previous Daily High	1.1229
Previous Daily Low	1.1118
Previous Weekly High	1.1245
Previous Weekly Low	1.0944
Previous Monthly High	1.1012
Previous Monthly Low	1.0662
Daily Fibonacci 38.2%	1.1161
Daily Fibonacci 61.8%	1.1187
Daily Pivot Point S1	1.1089
Daily Pivot Point S2	1.1048
Daily Pivot Point S3	1.0978
Daily Pivot Point R1	1.12
Daily Pivot Point R2	1.127
Daily Pivot Point R3	1.131

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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