EUR/USD Technical Analysis: Persistent weakness could visit the 55-day SMA

EUR/USD prolongs the negative price action below the 200day SMA.
Below the 55-day SMA at 1.1093 the selling bias should re-emerge.

Pablo Piovano FXStreet

EUR/USD trades on the defensive for the second session in a row. Losses are expected to pick up pace following the breakdown of the 200-day SMA in the 1.1140 region.

The bullish move that started in early December appears to have lost momentum, leaving an interim top in the vicinity of 1.1240 (December 31^st) for the time being.

Further downside should now allow a visit to the 55-day SMA in sub-1.1100 levels, reinstalling at the same time the bearish view in the par.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1128
Today Daily Change	43
Today Daily Change %	-0.14
Today daily open	1.1144

Trends
Daily SMA20	1.1144
Daily SMA50	1.1095
Daily SMA100	1.1066
Daily SMA200	1.1142

Levels
Previous Daily High	1.12
Previous Daily Low	1.1134
Previous Weekly High	1.1276
Previous Weekly Low	1.1124
Previous Monthly High	1.124
Previous Monthly Low	1.1002
Daily Fibonacci 38.2%	1.1159
Daily Fibonacci 61.8%	1.1175
Daily Pivot Point S1	1.1118
Daily Pivot Point S2	1.1092
Daily Pivot Point S3	1.1051
Daily Pivot Point R1	1.1185
Daily Pivot Point R2	1.1226
Daily Pivot Point R3	1.1252

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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