EURUSD Price Analysis: Extra losses likely below 1.0200

EUR/USD accelerates the decline and retargets 1.0200.
The loss of 1.0200 exposes a probable drop to 1.0020.

Pablo Piovano FXStreet

EUR/USD adds to the ongoing retracement and loses ground for the third session in a row on Monday.

A deeper pullback could breach 1.0200 and thus pave the way for extra losses to the 100-day SMA around 1.0020. South of this level, a potential visit to the parity zone could return to the radar.

In the meantime, the 200-day SMA, today at 1.0406, continues to cap occasional bullish attempts.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.0251
Today Daily Change	107
Today Daily Change %	-0.72
Today daily open	1.0325

Trends
Daily SMA20	1.0079
Daily SMA50	0.9931
Daily SMA100	1.0025
Daily SMA200	1.0414

Levels
Previous Daily High	1.0396
Previous Daily Low	1.032
Previous Weekly High	1.0482
Previous Weekly Low	1.0272
Previous Monthly High	1.0094
Previous Monthly Low	0.9632
Daily Fibonacci 38.2%	1.0349
Daily Fibonacci 61.8%	1.0367
Daily Pivot Point S1	1.0298
Daily Pivot Point S2	1.0271
Daily Pivot Point S3	1.0222
Daily Pivot Point R1	1.0374
Daily Pivot Point R2	1.0423
Daily Pivot Point R3	1.045

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 accelerates losses, focus is on 1.1800

EUR/USD’s selling pressure is gathering pace now, opening the door to a potential test of the key 1.1800 region sooner rather than later. The pair’s pullback comes on the back of marked gains in the US Dollar following US data releases and the publication of the FOMC Minutes later in the day.

GBP/USD turns negative near 1.3540

GBP/USD reverses its initial upside momentum and is now adding to previous declines, revisiting at the same time the 1.3540 region on Wednesday. Cable’s downtick comes on the back of decent gains in the Greenback and easing UK inflation figures, which seem to have reinforced the case for a BoE rate cut in March.

Gold picks pace, flirts with $5,000

Gold is back on the front foot on Wednesday, shaking off part of the early week softness and pushing higher towards the key $5,000 mark per troy ounce. The move comes ahead of the FOMC Minutes and is unfolding despite an intense rebound in the US Dollar.

Fed Minutes to shed light on January hold decision amid hawkish rate outlook

The Minutes of the Fed’s January 27-28 monetary policy meeting will be published today. Details of discussions on the decision to leave the policy rate unchanged will be scrutinized by investors.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Sui extends sideways action ahead of Grayscale’s GSUI ETF launch

Sui is extending its downtrend for the second consecutive day, trading at 0.95 at the time of writing on Wednesday. The Layer-1 token is down over 16% in February and approximately 34% from the start of the year, aligning with the overall bearish sentiment across the crypto market.