EUR/USD Price Analysis: Upside limited just above 1.1000

Pablo Piovano FXStreet

- 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 price	1.0904
Today Daily Change	91
Today Daily Change %	-0.63
Today daily open	1.0973

Trends
Daily SMA20	1.0826
Daily SMA50	1.0672
Daily SMA100	1.079
Daily SMA200	1.0816

Levels
Previous Daily High	1.1017
Previous Daily Low	1.096
Previous Weekly High	1.0965
Previous Weekly Low	1.0852
Previous Monthly High	1.0695
Previous Monthly Low	1.0448
Daily Fibonacci 38.2%	1.0982
Daily Fibonacci 61.8%	1.0995
Daily Pivot Point S1	1.095
Daily Pivot Point S2	1.0926
Daily Pivot Point S3	1.0892
Daily Pivot Point R1	1.1007
Daily Pivot Point R2	1.1041
Daily Pivot Point R3	1.1064

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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