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EUR/USD Price Analysis: Upside limited just above 1.1000

- EUR/USD faces extra downside pressure and breaches 1.0900.

- Further losses retarget the 200-day SMA near 1.0820.

EUR/USD adds to Wednesday’s decline and breaks below the 1.0900 support to print new multi-session lows on Thursday.

So far, the rejection of monthly highs past the key 1.1000 barrier could revisit a minor support at the weekly low of 1.0852 (November 27). The loss of this level could put a potential test of the critical 200-day SMA, today at 1.0816, back on the radar in the short-term horizon.

So far, while above the significant 200-day SMA, today at 1.0816, the pair’s outlook should remain constructive.

EUR/USD daily chart

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EUR/USD

Overview
Today last price1.0904
Today Daily Change91
Today Daily Change %-0.63
Today daily open1.0973
 
Trends
Daily SMA201.0826
Daily SMA501.0672
Daily SMA1001.079
Daily SMA2001.0816
 
Levels
Previous Daily High1.1017
Previous Daily Low1.096
Previous Weekly High1.0965
Previous Weekly Low1.0852
Previous Monthly High1.0695
Previous Monthly Low1.0448
Daily Fibonacci 38.2%1.0982
Daily Fibonacci 61.8%1.0995
Daily Pivot Point S11.095
Daily Pivot Point S21.0926
Daily Pivot Point S31.0892
Daily Pivot Point R11.1007
Daily Pivot Point R21.1041
Daily Pivot Point R31.1064

Author

Pablo Piovano

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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