EUR/USD Technical Analysis: Room for a deeper retracement. Targets monthly lows near 1.1130

The pair is struggling to defend the 1.1200 area following the recent pick up in the selling pressure.
The key resistance area in the 1.1260/70 band – where coincide recent tops and the 55-day SMA – continues to cap the upside and if it is not cleared in the near term, sellers are likely to return to the markets.
In the broader picture, EUR/USD stays offered below the key multi-month resistance line at 1.1299. That said, the door for another visit to 2019 lows in the 1.1100 neighbourhood remains well open.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1203
Today Daily Change	15
Today Daily Change %	-0.03
Today daily open	1.1206

Trends
Daily SMA20	1.1206
Daily SMA50	1.1248
Daily SMA100	1.1318
Daily SMA200	1.14

Levels
Previous Daily High	1.1246
Previous Daily Low	1.1201
Previous Weekly High	1.1254
Previous Weekly Low	1.1166
Previous Monthly High	1.1326
Previous Monthly Low	1.1111
Daily Fibonacci 38.2%	1.1218
Daily Fibonacci 61.8%	1.1229
Daily Pivot Point S1	1.1189
Daily Pivot Point S2	1.1173
Daily Pivot Point S3	1.1145
Daily Pivot Point R1	1.1234
Daily Pivot Point R2	1.1262
Daily Pivot Point R3	1.1278

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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