EUR/USD Price Analysis: Upside now targets the 200-day SMA

EUR/USD hits new 2021 lows in the 1.1760 zone.
The 200-day SMA near 1.1860 now emerges as the next hurdle.

Pablo Piovano FXStreet

EUR/USD’s weekly decline appears to have met a decent contention in the 1.1760 area, coincident with a Fibo level (of the November-January rally).

The recent breakdown of the 200-day SMA (1.1854) allows sellers to remain well in control of the sentiment surrounding the European currency, increasing the likelihood of further losses in the short-term horizon.

Below recent YTD lows around 1.1760 there are no relevant support levels until the November 2020 lows in the 1.1600 zone.

While below the 200-day SMA the short-term stance for EUR/USD is expected to remain negative.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1774
Today Daily Change	35
Today Daily Change %	0.09
Today daily open	1.1764

Trends
Daily SMA20	1.1938
Daily SMA50	1.2039
Daily SMA100	1.2058
Daily SMA200	1.1865

Levels
Previous Daily High	1.1828
Previous Daily Low	1.1762
Previous Weekly High	1.1989
Previous Weekly Low	1.1874
Previous Monthly High	1.2243
Previous Monthly Low	1.1952
Daily Fibonacci 38.2%	1.1787
Daily Fibonacci 61.8%	1.1803
Daily Pivot Point S1	1.1741
Daily Pivot Point S2	1.1718
Daily Pivot Point S3	1.1675
Daily Pivot Point R1	1.1807
Daily Pivot Point R2	1.1851
Daily Pivot Point R3	1.1874

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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