EUR/USD Technical Analysis: The leg lower could extend to the 1.1100 region… and below

EUR/USD is prolonging the rejection from fresh tops in the 1.1180 region recorded on Monday.
The renewed and quite moderate selling pressure is putting the constructive outlook to the test so far, as the pair approaches the key support in the 1.11 neighbourhood.
If the selling impetus gathers further traction, then the critical 55-day SMA in the mid-1.10s would become the next target of relevance.

Pablo Piovano FXStreet

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1114
Today Daily Change	19
Today Daily Change %	-0.09
Today daily open	1.1124

Trends
Daily SMA20	1.1011
Daily SMA50	1.1036
Daily SMA100	1.1137
Daily SMA200	1.1208

Levels
Previous Daily High	1.116
Previous Daily Low	1.1118
Previous Weekly High	1.1063
Previous Weekly Low	1.0941
Previous Monthly High	1.111
Previous Monthly Low	1.0885
Daily Fibonacci 38.2%	1.1134
Daily Fibonacci 61.8%	1.1144
Daily Pivot Point S1	1.1108
Daily Pivot Point S2	1.1092
Daily Pivot Point S3	1.1067
Daily Pivot Point R1	1.115
Daily Pivot Point R2	1.1176
Daily Pivot Point R3	1.1192

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.

EUR/USD looks weak below 1.1800

EUR/USD has slipped back under pressure, breaking through the 1.1800 support and drifting towards the weekly lows near 1.1770 ahead of the opening bell in Asia. The move reflects renewed strength in the US Dollar, with steady geopolitical tensions keeping its demand firm. Moving forward, the release of the German labour market report and flash inflation figures should keep European investors entertained on Friday.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold trims gains, slips back to around $5,170

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The yellow metal surrenders part of its earlier gains on the back of the resurgence of the buying interest in the Greenback. In the meantime, geopolitical tensions in the Middle East continue to limit the downside potential for now.