EUR/USD Technical Analysis: Consolidation likely ahead of extra losses

EUR/USD remains under the microscope near the 1.10 area.
Immediate target is located at the 55-day SMA around 1.1040.

Pablo Piovano FXStreet

EUR/USD keeps navigating the lower bound of the recent range near the key support at 1.10 the figure.

Key resistance is seen at the 55-day SMA in the 1.1040 region. Above this level, the downside pressure should mitigate somewhat and allow for a potential test of last week’s highs in 1.1095/1.1100 band.

On the opposite side, a breakdown of this important area of contention on a sustainable fashion should reassert the downside bias and allow for a deeper move to 2019 low at 1.0879.

EUR/USD

Overview
Today last price	1.1017
Today Daily Change	14
Today Daily Change %	0.05
Today daily open	1.1011

Trends
Daily SMA20	1.1068
Daily SMA50	1.1043
Daily SMA100	1.1085
Daily SMA200	1.1172

Levels
Previous Daily High	1.1034
Previous Daily Low	1.1003
Previous Weekly High	1.1098
Previous Weekly Low	1.1014
Previous Monthly High	1.118
Previous Monthly Low	1.0879
Daily Fibonacci 38.2%	1.1015
Daily Fibonacci 61.8%	1.1022
Daily Pivot Point S1	1.0998
Daily Pivot Point S2	1.0986
Daily Pivot Point S3	1.0968
Daily Pivot Point R1	1.1028
Daily Pivot Point R2	1.1046
Daily Pivot Point R3	1.1058

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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